Construction continues to slow, although consents for office and public transport buildings have risen 26 percent.

Stats NZ says new home consents dropped 20 percent in the year to August - and standalone new builds fell 9.7 percent.

Consents for townhouses, apartments, retirement village units, and flats are down 27 percent.

Infometrics Principal Economist Brad Olsen unpacks the factors behind the decline.

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