Source: New Zealand Labour Party
The National Government’s choices have contributed to a slow-down in the building sector, as thousands of people have lost their jobs in construction.
Statistics released today show 33,595 new homes were consented in Aotearoa New Zealand in the year ended February 2025, down 7.4 percent compared with the year ended February 2024.
“These numbers show the worst February for home consents since 2012,” Labour housing and infrastructure spokesperson Kieran McAnulty said.
“Building consents plummeted after the Government came in, stopped building Kāinga Ora houses and cut $1.5 billion from the public house building and maintenance fund.
“A lack of certainty around funding has also contributed to stagnating community housing so the pace of builds isn’t meeting need. The Government has only funded 1,500 new social housing places from July 2025.
“The Government has also reintroduced interest deductibility, which removes the incentive for the private sector to invest in new builds. As of yesterday, property investors can claim 100 percent of the interest back on their mortgage due to a $2.9 billion landlord tax break.
“Not only do these numbers mean fewer houses, it also means less work for the building and construction sector. New Zealand has lost more than 13,000 construction workers since this Government took over.
“Chris Bishop has talked a great lot of fluff about more homes, but it’s a pity he’s not great at getting them built,” Kieran McAnulty said.
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