New Zealand Building Permits Tumble 9.2% In January

(RTTNews) - The total number of building permits issued in New Zealand was down a seasonally adjusted 9.2 percent on month in January, Statistics New Zealand said on Wednesday - coming in at 2,833.

That missed expectations for a decline of 3 percent following the downwardly revised 0.4 percent increase in December (originally 0.6 percent).

In the year ended January 2022, the actual number of new dwellings consented was 48,707, up 22 percent from the January 2021 year.

The annual value of non-residential building work consented was NZ$8.2 billion, up 16 percent from the January 2021 year.