The number of building consents issued for new dwellings in New Zealand surged 16.5 percent month-over-month to a seasonally adjusted 3300 in January 2019, after an upwardly revised 5.4 percent gain in the previous month. Excluding apartments, flats, and retirement village units, the number of consents for new houses rose 5.8 percent, following a downwardly revised 3.1 percent decline in December. In the year ended January 2019, the actual number of new dwellings consented was 33,576, up 7.4 percent from the same month of the previous year and hitting its highest level in 44 years. Building Permits in New Zealand averaged 1973.10 from 1995 until 2018, reaching an all time high of 3392 in June of 2004 and a record low of 992 in January of 2009.
Building Permits in New Zealand is expected to be 2100.00 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 2250.00 in 12 months time. In the long-term, the New Zealand New Dwellings Building Consents is projected to trend around 2400.00 in 2020, according to our econometric models.