Yesterday, the Ministry of Business, Innovation and Employment published the March 2015 edition of the New Zealand Housing and Construction Quarterly report, which can be found here: http://www.dbh.govt.nz/UserFiles/File/Sector%20info/nzhc/2014/nz-housing-quarterly-december-2014.pdf
These are a few highlights of the report:
- The annual number of new dwelling consents in the year to December 2014 for New Zealand was 24,717. This is a positive sign as it represents a significant increase from the pre-recession low of just over 13,000 in 2007. However, the December 2014 figures fall well short of the 31,423 consents in 2004.
- Overall, the performance of the construction sector continues to follow an upward trend, with increasing levels of employment, residential and non-residential construction and hourly earnings.
- The cost of building continues to increase at an incremental pace, with the cost of building a standard house peaking at around $1,400/m2 in Auckland in September 2014.