New Zealand June Building Permits +3.5% m/m (prior -2.2%)

Building consents data from NZ for June 2023 rose 3.5% m/m

• prior -2.2%
• for the y/y, -12%

For the quarter as a whole the picture is not so strong. The number of new homes consented in the June 2023 quarter was down 20% compared with the June 2022 quarter.

Stats NZ:

• “The June 2023 quarter marked the second quarter in a row where there was a decrease in both the number of stand-alone houses and the number of multi-unit homes consented,”