Figures released by Statistics New Zealand show a record 48,522 new homes have been consented in the year ended November 2021, up 26 per cent from the November 2020 year.
Annual figures for the last nine months show more new homes have been consented than ever before, says Minister for Building and Construction Poto Williams.
Forecasts in the National Construction Pipeline Report 2021 estimate an increase in building and construction activity through to the end of the forecast period in 2026. The annual report provides a projection of national building and construction activity based on current settings. It includes national and regional breakdowns of actual and forecast residential building, non-residential building and infrastructure activity. The forecast is for 265,000 new dwellings to be consented through to 2026 at an average of over 44,000 dwellings a year.
“We expect high levels of residential construction in particular to continue for some time,” Poto Williams says.
“Despite challenges caused by the pandemic, the sector has remained resilient and is now in a good place to keep this momentum going.
“We will continue to work with the sector to help minimise ongoing disruptions from COVID-19.