Property

Building drop fuels fears for economy

Building consents have dropped for the second month in a row and have been on the slide since January, fuelling economists' belief that New Zealand is heading for a cooler economy.

Monday, October 04th 2004

Consents for new homes and apartments dropped to 2296 last month from 2347 in July, and were down from 2704 at the same time last year, Statistics New Zealand figures showed.

The number of consents for new houses and apartments has been falling since January after increasing for most of 2003. Excluding apartments, housing consents have been on a downward slide since November 2003.

Ten out of 16 regions recorded fewer consents last month than a year ago with Auckland recording the biggest drop, down from 1031 in August 2003 to 780 last month. Wellington's consents were down to 132 last month from 293 at the same time last year.

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Heartland Bank - Online 6.69
SBS FirstHome Combo 6.74
Wairarapa Building Society 6.95
Unity 6.99
Co-operative Bank - First Home Special 7.04
ICBC 7.05
China Construction Bank 7.09
BNZ - Classic 7.24
ASB Bank 7.24
ANZ Special 7.24
TSB Special 7.24
Unity First Home Buyer special 6.45
Heartland Bank - Online 6.45
China Construction Bank 6.75
TSB Special 6.75
ICBC 6.75
ANZ Special 6.79
ASB Bank 6.79
AIA - Go Home Loans 6.79
Kiwibank Special 6.79
BNZ - Classic 6.79
Unity 6.79
Westpac Special 6.39
China Construction Bank 6.40
ICBC 6.49
SBS Bank Special 6.55
Kiwibank Special 6.55
BNZ - Classic 6.55
Co-operative Bank - Owner Occ 6.55
ASB Bank 6.55
AIA - Go Home Loans 6.55
TSB Special 6.59
Kainga Ora 6.99
SBS FirstHome Combo 6.19
AIA - Back My Build 6.19
ANZ Blueprint to Build 7.39
Credit Union Auckland 7.70
ICBC 7.85
Heartland Bank - Online 7.99
Pepper Money Essential 8.29
Co-operative Bank - Owner Occ 8.40
Co-operative Bank - Standard 8.40
First Credit Union Standard 8.50
Kiwibank 8.50

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