New Zealand New Building Permits Rebound

The number of building consents issued for new dwellings in New Zealand rose 0.6 percent month-over-month to 4,206 in November of 2021, following a downwardly revised 2.1 percent fall in the previous month.

In the year ended in November 2021, the actual number of new dwellings consented was 48,522 up 26 percent from the November 2021 year.

The Building Permits is released by the Statistics New Zealand show the number of permits for new construction projects. It is considered as a leading indicator for the housing market. The more growing number of permits, the more positive (or bullish) for the NZD, while a low reading is seen as negative, or bearish.