Waikato’s building consent numbers have seen a noticeable shift!

In the year to Nov 23, only 3589 new homes were consented – that’s a significant 26% drop from the previous year.

To put it in perspective, there were only 7.3 dwellings consented per 1,000 residents in NZ as of Nov 23, compared to 9.8 in Nov 22. Interestingly, the record was set at 13.4 per 1,000 residents way back in Dec73.

With immigration hitting its highest level since 1974 and interest rates peaking (and possibly set to decrease), we’re seeing a continual decline in building consents.

What does this mean for the housing market? Expect prices and rents to rise.

John Kenel
Assured Property Investments