The drop in new homes consented, may bring some difficult decisions for businesses

Around 37-thousand new homes were consented in the year ending December 2023, down by around 25 percent compared to a year ago.

All regions except Gisborne and Hawke's Bay, consented fewer new homes compared to last year.

Master Builders CEO David Kelly says if the consents are down, a lot of businesses won't be able to carry the same overhead.

He says that'll mean in many cases having to lay off people -- many of whom have become well ingrained in the business.