WELLINGTON, Jan. 19 (Xinhua) -- Consents to build new homes hit an 11-year high in November last year as New Zealand struggles to deal with a housing crisis.
The number of new homes approved in November hit 2,973, up 5 percent year on year and the most for any month since March 2005, said the government's Statistics New Zealand agency Thursday.
The rise was driven by consents in Auckland, home to a third of the country's population and the center of the housing crisis.
"Almost 40 percent of the new homes consented were in Auckland," business indicators manager Melissa McKenzie said in a statement.
In the year ended November, 30,303 new homes were consented in New Zealand, up 13 percent from the previous November year.
In Auckland, 10,137 new homes were consented over the year, an increase of 13 percent.
The Reserve Bank of New Zealand has repeatedly warned that surging home prices in Auckland which are now rippling into neighboring regions are a risk to the country's financial stability.