Auckland surge in residential building work – Media release

3 June 2016

The seasonally adjusted value of residential building work in Auckland grew 13 percent in the March 2016 quarter compared with the December 2015 quarter, Statistics New Zealand said today.

“Auckland residential construction topped $1 billion for the first time in the March 2016 quarter, with another half-billion of non-residential work,” business indicators senior manager Neil Kelly said. "Every week this quarter about $120 million worth of building work was put in place in Auckland."

Nationally, the actual value of all building activity in the March 2016 quarter was $4.4 billion, comprising $2.8 billion of residential work and $1.6 billion of non-residential work.

The seasonally adjusted value of all building work rose 6.3 percent across the country in the March 2016 quarter compared with the December 2015 quarter. The value grew in North Island regions, but fell in Canterbury and the rest of the South Island.

Building activity volume continues to grow

Growth in all building activity volume continued in the March 2016 quarter. The total volume of building work rose 5.3 percent (seasonally adjusted) from the previous quarter, with rises of 5.5 percent for residential buildings and 5.0 percent for non-residential buildings. The residential volume trend is now 2.1 percent higher than the earlier series peak in the June 2004 quarter.

http://img.scoop.co.nz/media/pdfs/1606/ValueOfBuildingWorkMar16qtr.pdf

http://img.scoop.co.nz/media/pdfs/1606/vbwmar16tables.xls

ENDS

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