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The number of permits issued for residential construction increases in New Zealand
The number of permits issued for residential construction increases in New Zealand
May 31, 2010The quantity of permits for housing construction issued in April has increased by 15.5%, compared to the same period last year.
In April, the indicator has reached its two-year maximum. However in comparison to June 2007 peaks, it has plummeted by 29%.
The aggregative value of permits granted for housing construction has soared by 35%, year-on-year, while declining by 38% in the segment of commercial properties, The New Zealand Herald reports with reference to the official statistics.
According to Jane Turner, ASB Bank analyst, the demand for construction work increases gradually. However, this trend may slow down in the second half of the year due to expected declination of demand for housing.
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