New Zealand is currently in the midst of one of the three biggest booms for building consents that we’ve ever had. Statistics New Zealand's trend measure (which smooths out seasonal and other fluctuations) recorded 2,963 consents in May, which was the highest figure for any month in at least 23 years. The trends towards relatively more apartments and townhouses, with relatively fewer standalone houses, has continued. Auckland continues to drive the nationwide rise.
Over the past 12 months, it has had 12,274 (unadjusted measure) new dwelling unit consents, which is almost 3,000 more than it had in the 12 months to May 2016. Over that period, Auckland’s share of total national dwelling consents has risen from 33% to 38%. Even so, the shortfall of housing that has accumulated will take several years to reduce, especially given the construction industry is already facing labour/capacity shortages. Elsewhere, residential construction activity in Wellington also continues to rise, but the Waikato and Canterbury regions have eased back. Although dwelling consents in Canterbury have fallen significantly in the past few years, the level remains pretty high compared to pre-quake norms.