The headline is +1.4% m/m for August, vs. expected at +2.5%, and prior was -0.8%.
From Statistice NZ:
The trend for the number of new dwellings, excluding apartments, appears to be flattening, after increasing for over two years.
This slowdown in consents may be indicative of easing pressure in the NZ housing market, or it may be just ‘noise’ in the data … or if it is a real slowdown in the construction pipeline it may actually contribute to further house price rises. Anecdotal evidence points to less building, and less supply could lead to further price rises.
