Housing consents have hit a 45-year high, as Statistics NZ data shows a total of 37,010 residential consents were issued in the year to November --- the first time they have breached the 37,000 mark since the mid-1970s.
Statistics NZ said the trend had been rising since late 2011, when consents dipped to below 14,000 annually. Consents are now up 13 per cent on the previous year and 60 per cent above historical averages.
In Auckland, consents reached 14,866 or an increase of 16 per cent. It was nearly two-thirds above historical averages in the Waikato, Wellington and Manawatu.