New home consents continue to fall

Stats NZ data reveals 2850 new homes were consented in October, down 6.9 percent on the same month last year.

Consented multi-unit homes - including townhouses and apartments - were down 18 percent.

However, stand-alone house consents went up 8.6 percent.

Economic Indicators spokesperson, Michael Heslop, says since July, the monthly number of stand-alone houses consented, has been higher than 2023.