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New Zealand July Overall Building Consents Up 3.1% On Month

August 31, 2010, Tuesday, 06:57 GMT | 01:57 EST | 11:27 IST | 13:57 SGT

(RTTNews) - The number of permits for overall new housing construction in New Zealand increased in July by 3.1 percent, according to data released Tuesday by Statistics NZ.

With the volatile apartment category excluded, however, permits declined a seasonally adjusted 5.3 percent, compared to a 1.1 percent increase seen in June 2010.

Statistics NZ noted that 203 permits were issued for new apartments, the highest number in more than a year.

The value of residential building consents rose by 11 percent or NZ$48 million compared to July 2009.