Otago June building consents down 31

Satish Ranchhod.
Satish Ranchhod.
Otago residential housing consents eased in June, with the overall value flat at $73million, while nationally consenting was up 9.1% against last year.

Townhouse growth was up 57% overall while Wellington booked a sharp 44% increase in consenting.

Around Otago for June, consents fell from 182 last year to 151, with no move on the $73million value figure from last June.

Nationally, consenting rose 9.1% to 2792 consents, with the overall value up 8.9% to $999million for June.

South Island consent numbers rose from 617 a year ago to 686 and the value rose 11.5% to $270million.

Westpac senior economist Satish Ranchhod said June's 7.6% fall from May followed solid levels of dwelling consent issuance during the past few months, and still left consent numbers at a high level.

''That is consistent with our expectations for a pick-up in home building activity over the coming year,'' he said.

ASB senior economist Jane Turner said given consenting during the second quarter of the year had been ''surprisingly strong'', that suggested election-related reactions had now passed.

''Robust building consents issuance suggests some upside to our residential construction forecasts.

''But a key concern is that capacity constraints in the construction sector may hold back activity growth, despite the strong demand,'' Mrs Turner said.

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