PHOTO: 123RF – The figures show residential consents have not reached their pre-GFC peak

New Government data shows the home-building rate is yet to reach it’s early-2000s peak.

The rate compares population with residential building consents. In a 2004 peak 33,251 new residential buildings were consented, compared to a population of just over four million – creating a build rate of 0.81 per cent.

In the 2017 year to June 30,453 buildings were consented compared to a population of almost 4.8 million, leaving a build rate of 0.64 percent. This was well up on the 2009 low of 0.23 per cent but growth had begun to level off.