Page 16 - HW July 2020

stats watch
Value of building work put in place (by quarter)
“May 2020’s consent data show a significant rebound on the April month’s lows”
residential building work (+8.5%). With Stats NZ noting in June that
“the true e ects of Covid-19 may only
be seen several months down the line”, we won’t start to see meaningful detail
on the actual e ects of lockdown on construction until the June 2020 quarter’s Value of Building Work put in Place which is not scheduled until 4 September.
MAY CONSENTS IMPROVE ... ON APRIL LOW
In terms of intentions to build, Stats NZ having noted a degree of uncertainty around consent stats during lockdown, May 2020’s consent data show a signi cant rebound on the April month’s lows, even if they still represent falling value compared to May 2019.
By value, the May 2020 month is all about negatives:
• Residential:$1.5billion(–4.9%on
May 2019).
• Non-residential: $553 million (–5.5%). • Total:$2.1billion(–3.4%).
By volume 3,554 dwellings were consented in the May 2020 month, down 4.6% on May 2019 but +64% on April and still the highest monthly number since May last year.
May’s residential volume was partly driven by consents for 1,926 new stand-alone houses, (+42% from April) and a record high of 959 consents for townhouses, ats & units since the series started in April 1990.
Intentions to build are also trending downwards looking at the year to date: • Residential:$15.5billion(+3.9%on
YTD May 2019).
• Non-residential:$6.5billion(–12.6%).
• Total:$22.0billion(–1.6%).
By volume YTD, 37,010 dwellings were consented in the March 2020 year, +6.6% on YTD May 2019.
June 2020’s building consents are scheduled for release on 30 July.
MORE AT www.hardwarejournal.co.nz
(Unadjusted value.) Source: Statistics NZ
7000 Residential 6500
6000 5500 5000 4500 4000 3500 3000 2500 2000 1500 1000
500 0
Non-residential All
Residential building consents – Value – June 2018 to May 2020
(Total residential consents, incl. adds & alts, unadjusted value). Source: Statistics NZ
1600
1500
1400
1300
1200
1600 1100
1500 1000
1400 900
1300 800
1200 700
1100 600
1000 500
900 400
800 300
700 200
600 100
500 0
400 300 200
10100 0
N90o0n-residential building consents – Value – June 2018 to May 2020 (Total non-residential consents, unadjusted value) Source: Statistics NZ
800
1000 700
900 600
800 500
700 400
600 300
500 200
400 100
300 200 100
0
14 NZHJ | JULY 2020 3000
4000 3500
Jun-18 Jul-18 Aug-18 Sep-18 Oct-18 Nov-18 Dec-18 Jan-19 Feb-19 Mar-19 Apr-19 May-19 Jun-19 Jul-19 Aug-19 Sep-19 Oct-19 Nov-19 Dec-19 Jan-20 Feb-20 Mar-20 Apr-20 May-20
Jun-18 Jul-18 Aug-18 Sep-18 Oct-18 Nov-18 Dec-18 Jan-19 Feb-19 Mar-19 Apr-19 May-19 Jun-19 Jul-19 Aug-19 Sep-19 Oct-19 Nov-19 Dec-19 Jan-20 Feb-20 Mar-20 Apr-20 May-20
Mar-17 Jun-17 Sep-17 Dec-17 Mar-18 Jun-18 Sep-18 Dec-18 Mar-19 Jun-19 Sep-19 Dec-19 Mar-20
$ millions
$ millions
$ millions
4000