Tommy Honey: Construction Industry Council ED on the drop in building consents

Early Edition with Ryan Bridge · Jul 31, 2024 · 3m · transcript

There's a belief New Zealand's building sector is still many months away from a rebound, as consents plummet.

Stats NZ data shows fewer than 34,000 new homes were consented in the year to June.

That's a 24% annual drop, and five-year low.

Construction Industry Council Executive Director Tommy Honey told Ryan Bridge it's a continuation of a trend that began mid-2022

He says they've been waiting for that to reverse —or at least plateau— but numbers are still seemingly sinking.

Annual building consents of apartments have also plummeted, with a 51% drop in the year to June.

Honey told Bridge…