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Value of Building Work Continues to Increase

Value of Building Work Continues to Increase

The value of residential building work put in place was $1,910 million in the June 2004 quarter, up $395 million (26 percent) compared with the June 2003 quarter, according to Statistics New Zealand. The seasonally adjusted value of residential building work put in place increased 11 percent in the June 2004 quarter when compared with the March 2004 quarter. The trend for the value of residential building work put in place has been rising since the March 2001 quarter.

The value of non-residential building work put in place was $989 million in the June 2004 quarter, up $231 million (31 percent) when compared with the June 2003 quarter. Commercial buildings and miscellaneous buildings each contributed $265 million (27 percent) to the total for the June 2004 quarter. Seasonally adjusted, the value of non-residential building work put in place increased 14 percent from the March 2004 quarter to the June 2004 quarter. The trend has been rising since the March 2003 quarter.

In the June 2004 quarter, the total value of all building work put in place was $2,899 million, up $626 million (28 percent) when compared with the June 2003 quarter. Seasonally adjusted, the value increased 12 percent from the March 2004 quarter to the June 2004 quarter. The trend for the value of all building work put in place has been rising since the March 2001 quarter.

After adjusting for price changes, the value of residential building work put in place increased 15 percent from the June 2003 quarter to the June 2004 quarter. The deflated value of non-residential building work increased 20 percent between the two June quarters, while the deflated value of all building work increased 17 percent over the same period.

Brian Pink

Government Statistician

END

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