The seasonally adjusted number of new dwellings authorised, excluding apartments, fell 7.8 percent from January. This brings the level to the lowest point since February 2009.

The trend for the number of new dwellings authorised, excluding apartments, has fallen steadily in recent months, declining 31% since the recent peak in March 2010. 89 new apartments and 884 other dwelling units were authorised.

For February 2011, compared with February 2010, the unadjusted value of residential building consents fell $96 million (20%), and non-residential building consents fell $60 million (19%).

Download the full report in PDF. What is your view on the current market? are you expecting conditions to change radically over the next six months?