Building permits decrease
PA Wellington The number of building permits for new dwellings issued for January decreased 15.9 per cent compared with January last year, according to Government statistics. Permits for January totalled 1072 (value $75.6 million) compared with 1275 (valued at $81.4 million) for the same month last year. The total number of permits for the year ended January was 20,105, a decrease of 3783 over the year ended January, 1986. September, 1986, was the only month to register an increase (5.4 per cent)
in the number of permits issued compared with the same month in 1985. The largest decrease was in October, 1986, with permits issued falling 37.5 per cent compared with October, 1985. The drop in the number of permits issued showed that high interest rates had slowed house construction, said the Opposition’s spokesman on housing, Mr Roger McCiay. “The Government’s deliberate high interest rate policy has sharply reduced the living standards of ordinary New Zealanders and is ensuring that every month dwelling permits are substantially decreased,” he said.
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Press, 28 February 1987, Page 41
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172Building permits decrease Press, 28 February 1987, Page 41
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