NZ building permits for May: +13.2% m/m (prior -8.0%

Building approvals data is quite volatile month to month.

For the y/y, up 8.2%. Solid growth.

Highlights from the data release:

• largest number of new homes consented in a month since May 1974
• significant increase in the number of multi-unit home consents such as townhouses drove growth in new homes