Housing consents figures suggest slowdown

Sunday 6 June 2004

The latest housing consents figures contain a few suggestions that the long-awaited slowdown in the housing market may be starting.

By The Landlord

While the 2,486 consents worth $434.3 million for new homes granted in April were up 11% on April last year, they were well down on the 3,037 worth $562.6 million issued in March. Consents in March were up 19.7% on March last year.

And in seasonally adjusted terms, consents were down 5.5% from March and this was the third successive monthly decline. The March decline was revised to 7.3% from the previously published 6.1% decline.

The annual number of consents for the year ended April reflects the strength of the boom, the 31,677 consents being up 12% on the previous year and the largest total for an April year since 1976.

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