WELLINGTON, April 2 (Xinhua) -- New Zealand approved 33,595 new homes in the year ending in February 2025, a 7.4 percent decline from the previous year, according to the statistics department Stats NZ on Wednesday.

The annual number of new home consents has been stable for nine months, said Stats NZ economic indicators spokesperson Michelle Feyen.

Consents of multi-unit home, which includes townhouses, flats, and units, apartments, and retirement village units, dropped for the second consecutive year, down 15 percent to 17,743 in the year, while stand-alone house consents rose 2.3 percent to 15,852 over the same period, Stats NZ said.

On monthly terms, 2,578 new homes were approved in February 2025, marking a 7.8 percent year-on-year decline, it said, adding stand-alone house consents fell 8.2 percent to 1,191, the lowest for any February since 2012, while multi-unit approvals declined 7.4 percent to 1,387.

Despite the annual decline, seasonally adjusted home consents edged up 0.7 percent from January 2025, following a 2.6 percent rise the previous month. However, stand-alone house consents fell 7.5 percent after a 12 percent jump in January, Feyen said. Enditem

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