High numbers of new homes are being completed in Auckland and they're taking less time to build as supply constraints ease
By Greg Ninness
The number of new homes being completed in Auckland remains elevated with figures for February at a five year high.
Auckland Council issued 1164 Code Compliance Certificates (CCCs) for new dwellings, issued when a building is completed, in February. That's up 14% on February last year and was also the most for the month of February since 2018.
The high number of new homes completed in February also pushed the rolling monthly average to 1180 (per month), only slightly below the record high of 1202 set in June 2021.
The latest figures suggest that while building consent numbers, which are a forward looking indicator of construction work, point to a coming slowdown in residential construction activity, there is enough work already underway to keep builders busy for the time being at least.
There was also an improvement in the amount of time it takes for residential building projects to be completed, with 87% of the the dwellings completed in February receiving their CCC within two years of their building consents being issued, up from a low point of 66% in January.
That adds to growing evidence that recent materials supply constraints within the construction industry are starting to ease, reducing construction timeframes.
This story was originally published on Interest.co.nz and has been republished here with permission.