More data hints at slowing property market
Further signs that the housing market is cooling emerged today, with November new dwelling consents falling a seasonally adjusted 5.7 per cent, according to Statistics New Zealand.
Wednesday, January 12th 2005, 7:01PM
by The Landlord
That follows a 12.3 per cent rise in October.On a seasonally adjusted basis, the 2301 consents issued in November 2004 was down 21.5 per cent on the 2920 issued in November 2003.
Most of November's fall was due to the fall in the number of consents for apartments. Excluding apartments, the seasonally adjusted number of new dwelling consents authorised was down just 0.8 per cent at 1902.
The actual number of consents issued in November was 2675, compared with 2619 in October and 3032 in November 2003. There were 637 apartment consents against 708 in October and 495 in November 2003.
Apartment units accounted for 24 per cent of all new dwelling units in November, compared with 27 per cent in October.
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