The number of building consents issued continues to rise, with strong growth in the residential semi-detached dwelling market.

According to Stats NZ, in the 12 months to the end of October 37,981 new dwellings were consented, up 2.8% compared to the previous 12 months. In October 3,659 new dwellings were consented, with townhouses/flats and units reflecting the largest area of growth.

Auckland, in particular, continues to account for this strong demand of dwelling type, making up almost 60% of consents in the past year nationwide.

In the October 2020 year, education buildings, storage buildings and office, administration, and public transport buildings were again the commercial building types with the highest values.

Comparing growth of the residential and commercial sectors in the October 2020 year, total values of residential consents increased by 1.5% percent compared to the past year, while the value of commercial consents fell by 9.1 percent.

Residential projects accounted for around 68 percent of all consents issued in the October 2020 year, rising at a quicker rate than its non-residential and non-building counterparts over the last 10 years.

Whilst COVID-19 and recent economic developments have impacted lead times, we can expect to continue to see high levels of building activity in the short to medium term.