(RTTNews) - New Zealand’s housing market remained weak in June, according to data released Wednesday by Statistics NZ.

The agency said permits for 1,100 new dwellings were issued in June, carrying a value of NZ$307 million.

The figure was the lowest monthly value since September 2007.
For the full year through June 2009, permit values for residential buildings were down 30 percent while those for non-residential increased 8 percent.

The seasonally adjusted number of new housing units authorized, not counting apartments, was up 3.0 percent on month, following a decline of 3.2 percent in May.

When apartments are included, the seasonally adjusted number of new housing units was down 9.5 percent on month, following increases of 3.0 percent in May and 11 percent in April.

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Posted in Categories: Economy, New Zealand, Releases.

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