New Zealand Dwelling Permits Surge In October

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The number of new dwellings authorized in New Zealand climbed a seasonally adjusted 12% month-on-month in October, following the 5.5% increase in September, Statistics New Zealand reported on Monday. Excluding apartments, the seasonally adjusted number of new dwellings approved grew 11%, faster than the 3.5% rise in the previous month.

The number of dwelling permits issued increased in 12 of the 16 regions in New Zealand, with the largest increases reported in Auckland, Otago, and Taranaki.

The statistical agency also said that the value of residential building consents was NZ$481 million in October, up 9.5% from the previous year, while the value of consents issued for all buildings was NZ$810 million, a 2.8% increased compared to October 2008.

The number of new dwellings authorized in New Zealand climbed a seasonally adjusted 12% month-on-month in October, following the 5.5% increase in September, Statistics New Zealand reported on Monday. Excluding apartments, the seasonally adjusted number of new dwellings approved grew 11%, faster than the 3.5% rise in the previous month. (Market News Provided by RTTNews)