New house values up $2m in Bay on last year

The value of the houses in Hawke's Bay has increased by $2 million.

There were 30 building consents granted for new homes in Hawke's Bay during July, the same as July last year, but the value of the houses increased by $2 million.

According to latest Statistics New Zealand figures, Hawke's Bay had 30 consents for new dwellings granted in July, 12 up on 18 the previous month.

However, the value of new dwellings in the Bay was $11 million, up by $2 million over the same period last year.

Property Brokers regional manager Paul Whitaker said there has been a positive equity growth in properties mainly outside Auckland.

"We have seen a pick up in inquiries across all spectrums from rural to residential and commercial buildings, but the market still has negative supply to demand of new buildings," he said.

Statistics New Zealand figures show a record of 2824 new dwellings consented nationally in July, 2015, worth $828 million and up 24 per cent compared with July 2014.

There were 215 housing addition consents approved in July, 2014, compared with 1799 in July this year.

The annual increase in new dwellings has hit a 10-year high. On a seasonally adjusted basis, the number was up 20 per cent on July 2014.

"This was the highest number of new dwellings consented in a month since March, 2005," Statistics NZ business indicators manager Neil Kelly said. "It was boosted by apartments and town houses, flats and units."

The regions consenting the most new dwellings in July were Auckland, Canterbury and Waikato.NZME