A quiet comeback
Rachael Cone of Total Realty takes a look at New Zealand’s latest building consent figures that suggest a cautious optimism in our housing market.
New Zealand’s housing market may still be finding its feet this winter, but the latest building consent figures are a positive sign that confidence is quietly returning.
While consents don’t always translate into immediate construction, they are widely seen as one of the clearest forward indicators for the housing market, offering insight into where supply and development activity may head over the next one to two years.
There are still definite challenges ahead for some developers around financing, construction costs, and some report weaker pre-sales, but the upward trend suggests confidence is gradually improving.
New data shows residential building consents continuing to trend upwards, with 37,813 new homes consented nationwide in the year ended March 2026; up 11 per cent on the previous year and marking the first annual increase after three consecutive years of decline.
Standalone house consents rose 9.2 per cent to 17,444, while multi-unit homes climbed 13 per cent to 20,369, reflecting continued demand for higher-density housing across New Zealand. The total value of new residential building work has also risen to $16.7 billion, up 7.7 per cent year-on- year, highlighting continued investment and activity across the sector.
For buyers, sellers and investors alike, these figures suggest the market is continuing to move forward – steadily, cautiously, but with growing optimism. After a challenging few years, it’s encouraging to see more homes moving through the pipeline and developers feeling more optimistic about the next two years.
Thinking of making a move this year? Whether you’re buying, selling or simply keeping an eye on the market, the team at Total Realty is here to help with honest advice, local expertise and real savings along the way.
