14 Jan 2009

Building consents numbers still falling

12:07 pm on 14 January 2009

Building consents issued for new dwellings in November were the lowest monthly total in 17 years.

Statistics New Zealand says 1168 new dwellings were authorised in November last year, a drop of 4% on the same period in 2007.

It's the lowest monthly total since January 1992.

ASB Economist Jane Turner says it's a reflection of the weak housing market and down almost 50% on levels a year ago.