Across the country, total consents for all building types rose from 30,225 for the year to October 2016 to 30,866 for 2017, while overall there was a 0.8% decline in residential houses and retirement units were down 6.5%, Statistics New Zealand data showed yesterday.
The largest gain was in townhouses, flats and units, up 11.8% for the period.
While Otago consents were flat, rising from 161 a year ago to 168, the collective value rose from $63million to $80million.
Central Otago consents were flat at 34 last year to 33 but Queenstown Lakes consents grew from 80 to 108. No value data was provided for either area.
SNZ’s construction statistics manager, Melissa McKenzie, said apartment consents fell 66% on a year ago, with only 78 consented in October 2017.
"Apartments tend to be really volatile month to month," she said.
ASB senior economist Jane Turner said the October decline in residential consents was led by a fall in the number of apartments in Wellington.
"Consents may remain weak in the near term, due to uncertainty from a change in government," she said.
She noted non-residential building demand remained high, but capacity constraints in the construction sector might limit activity growth.
"In particular, property developers may choose to wait on the sidelines for more details around the [Government’s] KiwiBuild programme and how that could affect demand for future developments."
Across the North Island, the number of overall consents declined from 1915 a year ago to 1830, but the value rose from $716million to $744million. In the South Island, total consents rose from 660 a year ago to 719, with the value also rising from $242million to $278million.
Mrs Turner expected housing construction in the regions had peaked and activity would slow, as population growth also slowed.
Westpac economist Satish Ranchhod said the residential consent issuance fell 9.6% in October.
"That was a larger pull-back than we had expected," he said.
Much of that decline was in apartment consents, though consents for stand-alone homes were also down, Mr Ranchhod said.
