New Zealand building permits fall again

Photo by Phil Walter/Getty Images

New Zealand building permits fell heavily for a second consecutive month in September with a decline of 5.3% reported.

Despite the weak reading, following an upwardly revised 5.2% drop in August, total permits came in at 2,242, a 13% increase on September 2014.

“While we see a bit of volatility from month to month, the overall picture recently has been growth in building consents, both on the residential side and the non-residential,” said Clara Eatherley,” business indicators manager at Statistics New Zealand.

“In the regions surrounding Auckland, growth is being driven by new houses, while in Auckland itself, apartments are also a big part of the picture.”

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