A record 1927 new homes were completed in the Auckland region during September
By Greg Ninness
A record number of new homes were completed in Auckland in September.
The latest figures from Auckland Council show it issued 1927 Code Compliance Certificates (CCCs) for new dwellings in September. That's the highest number in any month since it began collating the figures in their current format at the beginning of 2010 when eight councils were combined to form Auckland's "supercity" council.
CCCs are issued when a building is completed, making them the most reliable indicator of new housing supply.
The previous monthly record was 1742 CCCs issued in June this year. (see graph below).
The latest monthly figure also pushed the number of dwellings completed in Auckland over the year to September to a record annual high of 16,769, the first time it has ever been above 16,000 in any 12 month period.
The record number of dwellings being completed in Auckland stands in sharp contrast to residential building consents for the region, which were down 22% in the 12 months to September compared to the previous 12 months.
However it generally takes around two years from the time a building consent is issued for a residential project until it is completed and a CCC is issued, so the current record rate of completions is a result of the large amount of residential building work in the construction pipeline.
At some stage the downturn in new dwelling consents will start to bite into residential construction activity in Auckland, as more existing projects are completed and fewer new projects get underway.
This story was originally published on Interest.co.nz and has been republished here with permission.