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.
