We're building flats instead of factories, according to the latest batch of building consent statistics.
The number of new apartments for which consents were issued in the year to July rose from 1000 to 1200 in 1995 and 1996, 1836 two years ago, 3103 last year and 3553this year.
The value of the building work averaged about $90,000 a unit in those earlier days but dropped to $79,400 two years ago and $72,200 last year. This year the value has increased to $77,100.
Consents for all types of new dwelling have topped 2000 a month for five months, after a dismal 1998 calendar year and a seven-month surge in 1997. On a year-to-July basis, the residential construction programme looks more even with a value of $2.8 billion to $3.1 billion every 12 months.
The monthly apartment tally of 548 in July was the highest on Statistics NZ's records and mostly for new units in Auckland (299) and Wellington (206).
The chief economist of business statistics, Ron McKenzie, said apartments made up only 5 per cent of total new dwelling consents in the July 1996 year, but this time were 15 per cent of the total.
Industrial construction looked strong in 1996 and 1997, with total approval values of $409 million and $421 million, but in each of the last two years the value of industrial work has been around $260 million.
But despite the reduction in industrial and commercial construction, the total construction bill has been held in a tight range between $6.1 billion and $6.28 billion for four years.
