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New Zealand's new home consents rise 4.8% monthly, but annual dwelling starts fall 12%.
Building consents for new homes in New Zealand increased by 4.8% in November 2024, totaling 3,100, but the annual number of new dwellings dropped by 12%.
Stand-alone houses saw a 4.1% decrease, while multi-unit homes rose by 14%.
Despite monthly fluctuations, the trend over the past year has been stable.
The total value of non-residential building work consented was $9.4 billion, down 1.6% from the previous year.
The overall number of new dwelling consents has declined by a third over the past two years.
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