More signs of recovery in the construction sector.
Stats NZ data shows more than 41,000 new homes were consented annually to September – up 18%.
Standalone home consents rose 20% to the highest level in four years.
Townhouse consents are up 18%, and they're up 11% for retirement village units, but down 11% for apartments.
Combined Building Supplies Co-op CEO Carl Taylor told Mike Hosking they're seeing a shift in the market – just because we can fit six townhouses on a section, doesn't mean we have to.
He says a lot of the builders he talks to are starting to pivot their businesses as they're realising they can't actually sell those townhouses – especially if they don't have garaging or car parking.
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