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Source: Reuters -
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Residential building consents have continued to fall, with December figures showing the lowest monthly total since January 1987.
In December 2008, just 1,127 consents were issued, reflecting a 6% drop on November.
Figures for the year ended December 2008 show a whopping decline in new residential building consents, which are now down to 7,134 from 18,456 for the same period last year.
New residential building consents, including apartments, peaked in June 2007.
The value of these consents also fell for the year to December 2008, falling 1.5 million to $4.9 billion.
However, non-residential buildings bucked the trend, rising 7.7% to $322 million compared with the year ended December 2007.
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