The number of building consents issued for new dwellings in New Zealand declined 1.3 percent month-over-month to a seasonally adjusted 3055 in July 2019, following an upwardly revised 4.0 percent drop in the previous month. It was the fourth fall in building consents in the last five months. Excluding apartments, flats, and retirement village units, the number of consents for new houses advanced 4.8 percent, following a downwardly 1.7 percent climb in the previous month. In the year ended July 2019, the actual number of new dwellings consented was 35,472, compared to 32,850 in the previous year. Building Permits in New Zealand averaged 2000.29 from 1995 until 2019, reaching an all time high of 3387 in June of 2004 and a record low of 993 in January of 2009.
Building Permits in New Zealand is expected to be 2800.00 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Building Permits in New Zealand to stand at 2860.00 in 12 months time. In the long-term, the New Zealand New Dwellings Building Consents is projected to trend around 3000.00 in 2020, according to our econometric models.