RTTNews - Monday, a report by the Statistics New Zealand said the number of new dwellings authorized, including apartment buildings, rose a seasonally adjusted 3.5% month-on-month in May, slower than a 11.9% growth in the preceding month.

Excluding apartment buildings, the seasonally adjusted number of new dwelling authorized fell 3.1% in May, after rising 4.5% in the previous month.

In May, the value of residential building consents totaled NZ$408 million, down 26% from last year. At the same time, the value of non-residential building consents rose 35% year-on-year to NZ$479 million, the second highest monthly value recorded.

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