Statistics NZ today issued their “Building Consents Issued: October 2009” report, and it shows that in many parts of NZ, the confidence to buy a section and build a new dwelling is starting to return to the market.
Nelson was not doing anything out of the ordinary sticking to its nominal percentage as the 23 consents approved equaled 1.7% of the national number of 1,321 new dwellings authorized. (these figures exclude apartment figures for which there were an additional 103 consents approved nationwide in Oct)
As reported in last months Nelson Property Report we had, at 27, the highest number of settled section sales in over a year or more.
So it was only to be expected that the consent number was going to pick up soon after as folk take advantage quickly of locking in those lower interest rates.
I also happen to think the early bird catches the worm here too with times on the horizon looking busier than they have for quite some time in the residential building sector. Locking in a builder now means costs are known and also hopefully protects you in case the long predicted (well its starting already) jump in activity across the ditch see’s builders / tradespeople hopping on a flight to chase the “big bucks.”