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Value of Building Work Put in Place Increases


Value of Building Work Put in Place Increases

The value of residential work put in place was $1,295 million in the March 2003 quarter, according to Statistics New Zealand. The seasonally adjusted value for residential building work put in place increased 5 percent in the March 2003 quarter, compared with the December 2002 quarter. The underlying trend for the value of residential building work put in place has been steadily increasing since the March 2001 quarter.

The value of non-residential building work put in place for the March 2003 quarter was $728 million. The underlying trend for the value of non-residential building work has increased gradually since the March 2002 quarter. Miscellaneous buildings, which includes sport stadiums and transport, community and farm buildings, made the largest contribution to non-residential building work put in place, with $203 million or 28 percent of the total. A similar contribution was made by commercial buildings with $200 million. This was followed by education buildings with $131 million or 18 percent.

For the March 2003 quarter the total value for all building work put in place was $2,023 million. The seasonally adjusted value for all building work put in place increased 3 percent in the March 2003 quarter, compared with the December 2002 quarter. Since the March 2001 quarter, the underlying trend of the value for all building work put in place has been steadily increasing. Residential building work put in place contributed 64 percent to the total value of all building work put in place in the March 2003 quarter, compared with 57 percent in the March 2002 quarter.

Brian Pink

Government Statistician

END


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