Home building boom in New Zealand
Residential and building construction along with infrastructure has reached a new all-time high in New Zealand, reaching $17.8 billion. The building consent data from Statistics New Zealand reveals that 28,387 homes were consented in the past year, the highest number in 11 years, and the 9,434 consented in Auckland is continuing the strong growth over the past four years. The 732 for May is also the highest in 11 years. The growth in Auckland for the residential construction centre was 26 per cent, a total of $4.3 billion, and is about as fast as a sector can grow, according to Nick Smith, Building and Housing Minister. He pointed out that this is treble the rate of $1.4 billion since his party came to office and the growth has been particularly dramatic in the past few years, since the Government entered into a Housing Accord with Auckland Council.
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