ZT: Consents a concern: economist

NewLynnHse

http://www.nzherald.co.nz/property/news/article.cfm?c_id=8&objectid=11149690

Building consents in the under-supplied Auckland market remain "worryingly subdued", particularly compared to the booming Canterbury region, says Westpac Institutional Bank senior economist Michael Gordon.

The pace of Auckland consents had slowed markedly in the last few months and he wasn't the only economist raising concerns. Statistics NZ yesterday released latest data which showed Canterbury building at record levels.

Christina Leung, ASB economist, said dwelling consent issuance for the year to September totalled just over 5600 in Auckland, well below the 13,000 of new houses the Auckland Council has estimated would be required annually to keep up with population growth in coming years

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klwss

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