NZ data, Building Permits for August beat at up 3.8% on the month
expected +2.3%, prior +2.1% m/m
For the y/y, +42.3%, which is reflective of the slower 2020.
Highlights:
- record 4,490 new homes consented in August
- also an annual record with 46,453 new homes consented in the year ended August 2021
Skyrocketing home prices in NZ are a political issue, this pipeline of building may go some way to alleviating the pressure.
