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New Zealand Building Permits Spike In February

The total number of building permits issued in New Zealand was up a seasonally adjusted 10.5 percent on month in February, Statistics New Zealand said on Wednesday – coming in at 4,195.

That follows the 8.7 percent decline in January and the 0.6 percent gain in December.

In the year ended February, an annual record 49,733 homes were consented, marking an increase of 25 percent on year.

Individually, consents were issued for 25,518 houses (51 percent of the total); 17,403 townhouses, flats, and units (35 percent); 3,910 apartments (8 percent); and 2,942 retirement village units (6 percent).

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