The number of new dwelling consents issued throughout the country jumped to 2926 in October, up 14.3% compared to September and up 14.8% compared to October last year, according to Statistics NZ.
For the 12 months ended October, 32,925 new dwelling consents were issued around the country, up 6.7% compared to the previous 12 months.
The figures also show a trend to build less stand alone houses and more multi-unit housing such as apartments and terraced houses.
In the 12 months to October, 20,918 new stand alone houses were consented, down 1.3% compared to the 12 months to October 2017, and that was down 0.8% compared to the 12 months ended October 2016.
On the other side of the coin 3835 new apartments were consented in the 12 months to October, up 27.8% compared to the 12 months to October 2017, which was up 17.5% compared to the 12 months to October 2016.
Townhouses and home units showed even stronger annual growth of 31.6%, and they have have maintained extremely strong double digit growth in the number of consents being issued over the last five years.
But surprisingly the number of retirement village units being consented has declined for the last two years, down from 2034 in the 12 months to October 2016, to 1902 in the same period of 2017 (-6.5%), and down to 1895 (-0.4%) in the 12 months to October this year.
So although the vast majority of new homes being consented (63.5%) are still stand alone houses, that percentage is declining and all of the growth is coming from multi-unit housing.
Around the regions, 1077 consents were issued in Auckland in October, which was up 26.1% compared to September and up 14.1% compared to October last year, but down from the levels achieved in five of the previous six months.
Unless there is a substantial lift in new consents issued in Auckland in November, then it appears that consents will once again start to fall well behind what is required to keep pace with the region's migration-driven population growth.
However there was strong growth in October's consent numbers compared to a year ago in Waikato +20.9% and Wellington +34%, while consents were sluggish in Bay of Plenty -4%, and Canterbury +2.9%.
See the charts below for the full regional figures and to follow the trends in the types of dwellings being consented: