29 Feb 2012

Building consents rise in January

1:36 pm on 29 February 2012

Building consents have risen for a second consecutive month, boosted by growth in apartments.

Consents for new homes rose a seasonally-adjusted 3.7% compared to December to 1130.

When apartments are included, consents rose 8.3% to about 1300.

Consents are now at the highest level since August.

ASB economist, Jane Turner, says the construction sector should gain momentum later this year as reconstruction in Canterbury gets underway.

On an annual basis, consents are almost 20% higher than in January a year ago.

The value of consents issued for residential buildings was $386 million in January, up 25% from a year ago.

The value of non-residential buildings was fractionally lower at $226 million.