WELLINGTON, Oct. 2 (Xinhua) -- New Zealand saw 42,110 new homes consented in the year ended August 2023, down 17 percent compared with the same period last year, according to the statistics department Stats NZ on Monday.
This figure continues the downward trend from the peak of 51,015 in the year ended May 2022, said Stats NZ construction and property statistics manager Anna Howe.
"However, the number of new homes consented in the year ended August 2023 is still at a higher level than any 12-month period prior to 2021," Howe said.
In the year ended August 2023, there were 17,267 stand-alone houses consented, down 25 percent compared with the year ended August 2022, she said.
There were 24,843 multi-unit homes consented, down 10 percent over the same period, according to Howe. Multi-unit homes include townhouses, apartments, retirement village units, and flats.
Auckland, the country's largest city, saw the highest number of new homes consented in the year ended August 2023 at 18,003, down 16 percent from the year ended August 2022, Howe said.
Home consents recorded a year-on-year decrease of 30 percent in August 2023, she said, adding that fewer new homes were consented in each month this year so far, compared with the same month of both 2022 and 2021.
The number of new homes consented each month can vary significantly due to the timing of large multi-dwelling projects, such as townhouses and apartment buildings, Howe said.