The number of residential building consents issued in the December quarter has reached an all-time high.
The latest figures from Stats NZ shows 11,291 new homes were given the green light over the three month period, surpassing the previous record set back in 1973 of 10,713.
The total number of new homes consented last year was 39,420, up by nearly 5 percent on 2019.
“If the rate of new homes consented continues like the December 2020 quarter, we could possibly see the annual figures surpass those from the 1970s,” Stats NZ construction statistics manager Michael Heslop said.
However, the number of homes consented per 1000 people in the past is well below past highs.
Just under eight homes were consented per 1000 people in 2020, compared with more than 13 in 1973.
Building consents for townhouses, flats and units rose by 40 percent on the previous year to 11,603. They now accounted for about a third of all new consents issued.
The total value of new residential building consents for 2020 was just shy of $16.5 billion, making up about 68 percent of the total value of all consents for 2020.