The total number of building permits issued in New Zealand tumbled a seasonally adjusted 6.3 percent on month in February, Statistics New Zealand said on Tuesday – standing at 1,758.

Excluding apartments, the number of building permits dipped 1.4 percent to 1,598. Permits were issued for 160 apartments, including 28 retirement village units.

“The trend for new dwellings has more than doubled since March 2011,” business indicators manager Neil Kelly said. “But it is now showing signs of decreasing after generally increasing for almost four years.”

Permits had fallen 3.8 percent in January.

The total number of permits fell 0.6 percent on year in February.

The regions that consented the most new dwellings were: Auckland – 528 (including 98 apartments); Canterbury – 517 (including 62 apartments); and Waikato – 195.

The annual unadjusted value of consents for February was: all buildings – up NZ$136 million (12 percent) to NZ$1.2 billion; residential work – up NZ$43 million (5.9 percent) to NZ$769 million; non-residential work – up NZ$93 million (25 percent) to NZ$469 million.

The material has been provided by InstaForex Company –