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New Zealand Construction Sector Sees 5.8% Decline

5/30/2025

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Summary

Story summary

New Zealand's construction sector is facing a significant downturn, with the annual value of building work consented plummeting from $28.569 billion to $26.920 billion—a 5.8% drop. The residential market is hit hardest, as new home consents nosedive from 50,688 in April 2022 to just 33,554 by April 2025, with bleak forecasts extending into 2026 and 2027.

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Story summary

New Zealand's construction sector is facing a significant downturn, with the annual value of building work consented plummeting from $28.569 billion to $26.920 billion—a 5.8% drop. The residential market is hit hardest, as new home consents nosedive from 50,688 in April 2022 to just 33,554 by April 2025, with bleak forecasts extending into 2026 and 2027.