The number of new homes being completed in Auckland is continuing to surge with Auckland Council issuing 1118 Code Compliance Certificates (CCCs) for new dwellings in July.
That took the total number of CCCs issued in the three months to the end of July to 3481, up 27% on the same three months of last year and up a whopping 61% on the same three months of 2017.
CCCs are a more accurate measure of new housing supply than building consents because CCCs are issued when a building is completed while consents are issued before it is built.
So consents give a good indication of building intentions while CCCs give a more accurate picture what is actually delivered into the market.
The number of CCCs being issued has been steadily rising since interest.co.nz began collating the data in 2012 and this shows that around 11,000 new homes a year are being completed in Auckland compared to less than 4500 a year five years ago.
And the numbers look set to go even higher.
Most new dwellings are completed within two years of consents their being issued and the latest figures suggest most new dwellings that were consented two year ago have actually been built with very little slippage, in spite of the difficulties facing the construction industry.
In the 12 months to June 2017, 10,364 consents were issued for new residential dwellings in Auckland and in the 12 months to June 2019 (allowing two years for completion) 10,573 CCCs were issued.
However the number of new dwelling consents being issued in Auckland has continued to climb quite dramatically over the last two years and is now running at just over 14,000 a year.
If all of those homes are built it would mean a further 27% increase in the number of new homes being completed in Auckland over the next two years.
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