Building consents hit eight year high

“The rate of new house build in Auckland remains strong. The 8615 consents issued in the year to August this year is the highest since 2007, while the 741 consents for the month of August is the highest number of consents issued in Auckland in any August since 2004,” Dr Smith says.

“The Government’s focus remains on boosting the supply of new housing, to improve affordability and ensure that more New Zealanders are able to own their own home. We have a wide programme of work underway, including freeing up more land faster through the Auckland Housing Accord and the seven other Accords we have agreed with councils across the country. We are also constraining building materials costs, reining in development contributions, cutting compliance costs and improving productivity in the building and construction sector. Our $435 million HomeStart scheme will assist 90,000 into home ownership over the next five years.

“The next steps include the new tax measures that come into effect tomorrow, the Reserve Bank’s new tax measures that come into effect on 1 November, and the reforms to the Resource Management Act and the Building Act to address the long-term issues affecting housing supply and affordability.”

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