Building activity in the Waikato region is rising rapidly.
This indicator is the real value of new building consents issued per year within the Waikato region.
Why is this indicator important?
The value of building consents issued is seen as a leading indicator of economic activity. An increase in building consents is linked with an area’s economic growth, whereas a decrease indicates economic growth is declining.
|Year||Real value of building consents authorised ($m) (annual - Jun)|
What is this indicator telling us?
- The year to June 2018 showed a further rapid rise in building activity to new record levels. New Zealand overall is in the midst of its largest building boom.
- According to Statistics New Zealand (SNZ) figures, for the Waikato region there was around $1.67 billion of consents issued for new buildings during the year to June 2018. This sets a new record compared to the peak $1.39 billion value (in 2018 dollar terms) of building consents issued in 2007.
Check out related information on our website and other organisations’ websites listed on our Waikato Progress Indicators’ Useful Links page.
DATA SOURCE AND SUPPORTING INFORMATION
Time series results are from the Statistics New Zealand (SNZ) InfoShare database (Number, value and floor area by building type, nature and region (Annual-Mon)). These can be found under Industry sectors > Building Consents – BLD > Number, value and floor area by building type, nature and region (Annual-Mon), selecting Annual - Jun, All buildings, New, Actual and Value.
These SNZ data have been inflation adjusted to June 2018 dollars using June quarter Consumer Price Index (CPI) values.
Secondary indicators available from SNZ include the value and number of new dwelling units and new non-residential buildings authorised.
Update details: Monthly series available online in aggregated year-to-date format. Latest results are published online by SNZ within approximately one month of collection.
Customised data request requirements: Nil
DATA AVAILABILITY – OTHER THAN WAIKATO REGION:
Territorial Authority (TA) disaggregation: Yes.
Other regions: Yes, but not comparable due to the dimensional nature of this indicator (i.e. not reported on a per capita basis).
New Zealand: Yes, but not comparable due to the dimensional nature of this indicator (i.e. not reported on a per capita basis).
Other countries/ Organisation for Economic Co-operation and Development (OECD): No