- Previous month -17.0% revised from -13.8%)
- Building permits for July 26.2%
The rise is the largest since May 2020. The decline in recent months has been the largest since February 2021.
If we look at history, the fluctuations are very clear.
“More working days contributed to the increase in the number of homes approved in July 2024 compared to July 2023,” said Michael Hyslop, director of building and property statistics.
There were 23 working days in July 2024 compared to 20 working days in July 2023, with Matariki Day being celebrated in June 2024 (compared to July 2023). More working days in a month means more time for building approval authorities to issue approvals for new homes.
In July 2024, 1,685 detached homes were approved, up 42 percent compared to July 2023. 1,667 multi-unit homes were approved, down 11 percent over the same period.
“A major development in the Queenstown-Lakes area has contributed to a sharp rise in detached homes approved for July 2024,” Hislop said.
The number of homes approved each month can vary greatly due to the timing of large projects.