Marlborough Region Quarterly economic monitor - December 2019

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Residential consents

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Highlights for Marlborough Region

  • A total of 84 new residential building consents were issued in Marlborough Region in the December 2019 quarter, compared with 55 in the same quarter last year.
  • On an annual basis the number of consents in Marlborough Region increased by 7.0% compared with the same 12-month period a year ago. The number of consents in New Zealand increased by 13.8% over the same period.

National overview

Residential building consents have continued to grow strongly, up 13.8% in the December 2019 year, taking annual consents to 37,500 – doubling over the past eight years. Housing growth, especially for high density dwellings, has been strongest in regions most desperate for more housing such as Auckland and Wellington. While this is a strong supply response to the national shortfall of approximately 30-40,000 dwellings, we are sceptical that construction activity will grow at the same pace as consented intentions, given the current constraints in construction sector capacity.