House-building rebounds, consents up 12% annually, seventh month of recovery

Stats NZ data today showed 15,972 houses consented in Auckland, up 16% annually.

Precint Properties’ CEO Scott Pritchard is heading a multi-billion dollar Auckland apartment push. Photo / Michael Craig

Consents issued in Canterbury were 7721, up 16%. Waikato consents were up 4.9% to 2992, Otago had 2698, up 10%, and Wellington had 2138, up 18%.

More than half of the new homes consented in the year to February were multi-unit apartments, townhouses, flats and retirement places.

There were 3168 new homes consented in February alone.

That was up 23% compared to last February and included:

1532 standalone houses, up 29%;190 retirement village units, up 90%;141 apartments, up 28%;1305 townhouses, flats, and units, up 11%.

The number of multi-unit homes consented can fluctuate from month to month, due to large projects.

In seasonally adjusted terms, the number of new homes consented rose 2.7% in February compared with January.

There were 36,944 new homes consented in New Zealand in the year ended January.

Westpac senior economist Satish Ranchhod expects to see building activity gradually lifting during the course of this year.

Te Reiputa, a five-block build-to-rent project on Auckland’s Mt Wellington Highway by Simplicity Living. This shows the project on September 25, 2025. Photo / Simplicity Living

The lift lately had been encouraged by sharp falls in interest rates, he noted.

“As well as reducing financing costs for developers, those lower borrowing costs are expected to support a lift in buyer demand over the coming year,“ Ranchhod told the Herald last month.

The lift in consents had been centred on Auckland, which mainly relates to an increase in townhouses and other medium-density projects, he said.

However, few new apartment projects had been announced lately.

Shane Brealey and Sam Stubbs of Simplicity Living at the new Te Reiputa build-to-rent housing scheme, 80 Mt Wellington Highway. Photo / Michael Craig

One of the busiest Auckland sectors has been build-to-rent.

That is dominated by Simplicity Living, which has construction of a number of sites including the $225 million Te Reiputa on the Mt Wellington Highway.

Simplicity Living’s build-to-rent projects

Remarkables Park, Queenstown: 600-unit, $500m investment planned. 12 Lower Shotover Rd;Te Reiputa: 297 units, 222 car parks, $225m, 80 Mt Wellington Highway, nearing completion;Waiatarua: 330 units, 172 car parks, $284m, 130 Ascot Ave, ex-Ellerslie Racecourse carpark, under construction;Northcote: 93 units planned, 137 Lake Rd, started in November;Morningside: 264 units, 10 Morningside Drive, construction started in July, due for completion 2027.Planning to buy at Unitec in Waterview, Middlemore and Maungawhau on land used for the City Rail Link;Last month, announced a 1.4ha Mt Albert purchase for 203 apartments.

Another major developer is Precinct Properties.

That company also has many sites under development.

Precinct apartment plans

22 Stanley St, Parnell: $290m, 960-unit student accommodation, consented, due to open 2028.256 Queen St, 680 units, student accommodation, under constructionPumanawa/Downtown Carpark site: 160 units possible, not started, being designed, demolition due later this year;Mt Eden: 198-222 Dominion Rd and 113-117 Valley Rd: 135 apartments, consented, shops, offices;Fabric 2, Onehunga, due to be finished soon: 118 units.The Domain Collection, Newmarket, completion this year: 65 units.York House, Parnell, completion this year: 41 units.Pillars, 99 College Hill, St Mary’s Bay: $100m scheme for 20 units, non-notified, consented.Joint venture with Orams Group to develop its big Wynyard Quarter site, fast-track planning sought.

Anne Gibson has been the Herald’s property editor for 26 years, written books and covered property extensively here and overseas.

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