Building Consents Figures

[speights boy]

Building consents rise 1.9% in February, helped by retirement village units

Thursday March 28, 2013
New Zealand building consents rose 1.9 percent in February as an increased intentions to build retirement village units made up for a fall in new housing permits.

The number of consents rose to a seasonally adjusted 1592 from 1563 in January, according to Statistics New Zealand. Stripping out new apartment permits, which are typically lumpy from month to month, consents fell 3.6 percent to 1451.

Of the 142 apartment consents issued last month, 98 were for retirement village units.
That comes as village operators, including Ryman Healthcare and Summerset Group, accelerate their new developments in anticipation of the ageing baby boomer generation which is starting to enter retirement age.

www.nbr.co.nz/article/nz-building-consents-rise-19-percent-february-propped-retirement-village-units-bd-137842

Depends I guess on how you read the figures.

Great for retirement village shareholders, as is evidenced by the share prices, but long term demographic concerns for our economy ???

[Perry]

Home Building Returns To Pre-slump Levels
05/06/2013

Home building jumped 12 per cent in the March quarter, the biggest
rise in a decade, returning to levels last seen in 2008 after the
slump sparked by the global financial crisis. Statistics NZ said
activity in residential building had been rising steadily and the
March quarter marked the fourth quarter of growth in a row.
Residential building had been trending up since September 2011
and was now back to levels seen in late 2008.

[Meehole]

Speights Boy This is one baby boomer who won't be putting her hard earned moolah into license to occupy retirement living. I'd rather give it to my kids by way of a home and income. I guess they are big in Oz and have worked over there but alot of them retire at 55 and I know a few that have sold the family home and spent the money on a caravan and just cruise.
As for the building consents, here in ChCh you are mad to purchase a repaired house if their is an option to build one! But yet again as in Auckland the houses bracket that is the most sought after is the $300 - $400K and demand just pushes the prices up.

[Hound]

If interest rates went back up to nine or ten percent, it would represent a financial catastrophe for the Christchurch rebuild. I suspect the present Govt is aware of this.

[speights boy]

If interest rates went back up to nine or ten percent, it would represent a financial catastrophe for the Christchurch rebuild.

Who the heck is suggesting that for interest rates?

[Glenn]

If interest rates went back up to nine or ten percent, it would represent a financial catastrophe for the Christchurch rebuild. I suspect the present Govt is aware of this.

But I thought the intention of the Government was to stop investments in housing. That was the clear message from Bill English when he took away the depreciation allowances on investment properties. Strange really because you can still depreciate milking machines yet far more money is being sunk into that white hole than on housing. No the great plan of the Government is to have their citizens in poor housing run by incompetent government servant property managers.

[speights boy]

Who the heck is suggesting that for interest rates?

Wow.
I see TA is suggesting something close.
I must say, I hope he is correct.

BNZ chief economist Tony Alexander sees floating mortgage rates hitting 8.5% within the next three or four years

www.interest.co.nz/property/64796/bnz-chief-economist-tony-alexander-sees-floating-mortgage-rates-hitting-85-within-nex

[lawt]

If interest rates went back up to nine or ten percent, it would represent a financial catastrophe for the Christchurch rebuild. I suspect the present Govt is aware of this.

Is not a lot of the Chch rebuild being funded by insurance?
If so surely one wouldn't expect interest rates to have much of an impact on the rebuild surely?

[Maccachic]

Must say my BNZ banking guy got a bit defensive when I asked if we were close to 4.95% @ 3 years yet, was quite funny.

[Perry]

House-building Consents On The Rise
Catherine Harris
28/06/2013

House-building consents continued to rise last month, with
non-apartment consents hitting their highest level in more than five
years. Statistics New Zealand figures show 1971 consents were issued
in May, including 219 apartments. This was up 1.3 per cent on the
previous month and compounded a 21 per cent gain in April.

Excluding apartments, new dwellings hit their highest monthly number
since November 2007, although it was down 0.3 per cent on a seasonally
adjusted monthly basis. Fifty-seven per cent of the consents were in
Auckland and Canterbury

[Glenn]

House-building Consents On The Rise
Catherine Harris
28/06/2013

I always snigger when I read what some journalist has written. You can down load the spread sheet that details every region and territorial authority in the country. Where is the comment about the tripling in a year of consents in North Shore. I see Christchurch has increased to a heady number of 172 but the outlying towns down there are doing well.

[speights boy]

225 unit approved for a prime Hobsonville waterfront site.
These will sell very well I predict.
Well done Summerset.

Disc: Sum holder.

Premiere $120 Million Retirement Village gets Green Light

NOVEMBER 5, 2013
PREMIERE $120 MILLION RETIREMENT VILLAGE GETS GREEN LIGHT

A $120 million retirement village is to be built on an unrivalled location on Hobsonville’s waterfront.

Retirement village operator Summerset has received Environment Court Approval to build its proposed retirement village, which will be home to around 350 residents on completion.
This comes after Summerset was declined by Auckland Council earlier this year on their resource consent application.

https://nzx.com/companies/SUM/announcements/243339

[Davo36]

This comes after Summerset was declined by Auckland Council earlier this year on their resource consent application.

Why oh why does this always happen? They just say no to almost everything.

Meaning costly hearings with the Environment Court. And they wonder why housing in Auckland is expensive!

[speights boy]

Not disagreeing in general Davo, but in this case we don't know whether the initial 'no' was justified or not.

Summerset have reached a compromise with the council; and have had their amended plan approved by them.
This meant the court case did not need to go ahead as such, because the amended plan was approved by the court.

The site is a prime spot for that area, so I think an intensive development such as this needs to be scrutinised thoroughly.

[Wayne]

I agree SB - just because the council said No doesn't mean they were wrong.
I don't know but maybe the new plan is better.