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New Zealand Building Permits Sink 5.2% In July
(RTTNews) - The total number of building permits issued in New Zealand was down a seasonally adjusted 5.2 percent on month in July, Statistics New Zealand said on Wednesday - coming in at 3,058.
That was well shy of forecasts for an increase of 0.2 percent following the downwardly revised 3.4 percent gain in June (originally 3.5 percent).
Individually, permits were issued for 1,554 townhouses, flats, and units; 1,183 stand-alone houses; 246 apartments; and 75 retirement village units.
In the year ended July 2023, the actual number of new dwellings consented was 43,487, down 14 percent from the year ended July 2022.
The annual value of non-residential building work consented was NZ$10 billion, up 13 percent from the year ended July 2022.
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