New Zealand Building permits for December -9.6% m/m (prior +10.8%)

ICYMI - building consents is a very volatile data set

Down 9.6% in December on the month (this is a seasonally adjusted number)

• November revised to +9.6% (from +10.8%)

The total number of new homes consented in the year ended December 2017 was 31,087 - up 3.4 percent from 2016.

Says Stats NZ:

"The fall in stand-alone houses consented was more than offset by a large rise in new apartment units consented during the year."

more to come

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