New Zealand Dwelling Approvals Fall In January

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Statistics New Zealand said on Friday the total number of dwelling approvals in January fell a seasonally adjusted 2.8% month-on-month, after falling 3.5% in December. This was wildly off expectations for a 2.2% increase.

Excluding the "volatile" apartments segment, the seasonally adjusted number of new dwellings authorized rose 0.7%, after falling 3.9% in December.

A total of 1,000 new dwellings and 42 new apartments were authorized in January.

The regions with the largest increases in dwelling consents were Canterbury, Auckland and Northland. On the other hand, dwelling consents in Marlborough, Tasman, Otago, Wellington, Gisborne, and West Coast decreased.

Statistics New Zealand said on Friday the total number of dwelling approvals in January fell a seasonally adjusted 2.8% month-on-month, after falling 3.5% in December. This was wildly off expectations for a 2.2% increase. (Market News Provided by RTTNews)