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Residential Building Work Eases

Value of Building Work Put in Place: September 2005 quarter

9 December 2005

Residential Building Work Eases

The seasonally adjusted value of residential building work put in place fell 4.6 percent in the September 2005 quarter, following a fall of 1.5 percent in the June 2005 quarter, Statistics New Zealand said today. Work on residential buildings accounted for 58 percent of all building work in the September 2005 quarter, compared with a quarterly average of 65 percent during 2003 and 2004.

For non-residential buildings, the seasonally adjusted value of work put in place fell 5.9 percent in the September 2005 quarter, following a rise of 17 percent in the June 2005 quarter. After removal of price changes, the seasonally adjusted value fell 7.1 percent in the September 2005 quarter, following a rise of 16 percent in the June 2005 quarter.

The value of all building work put in place in the September 2005 quarter is estimated at $3,262 million, up $184 million compared with the September quarter last year. The trend for the value of all building work put in place fell slightly in the September 2005 quarter. This follows a four-year period in which rises were recorded for almost every quarter.

Brian Pink

Government Statistician

ENDS

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