A downward trajectory in the number of new homes being completed in Auckland resumed in June, although the rate of decline appears to be slowing.
Code Compliance Certificate (CCC) issuance figures from Auckland Council show the number of new homes being completed in Auckland each month has been in steady decline since it peaked at 1949 in October 2023.
By April this year that figure had dropped to 1256. It then increased to 1316 in May, before resuming its downward trend and dropping back to 1208 in June.
CCCs are issued by councils when a building is completed so are the best indicator of new housing supply. Building consents are issued before construction starts so are an indicator of likely future supply.
Although the number of new builds is declining, the rate of decline is slowing.
In June, the rolling monthly average of CCCs issued over the previous 12 months was 1286, down by just 10 compared to the same figure for May.
The rolling average for June marked the fifth consecutive month of declines for that figure, with the size of decline getting smaller each month. The June decline of 10 fewer completions was down from 57 in February.
That suggests the bottom of the current residential construction slump in Auckland may be within sight.
We welcome your comments below. If you are not already registered, please register to comment.
Remember we welcome robust, respectful and insightful debate. We don't welcome abusive or defamatory comments and will de-register those repeatedly making such comments. Our current comment policy is here.