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Value of Building Work Rises

Embargoed until 10:45am – 9 June 2006

Value of Building Work Rises

The seasonally adjusted value of work put in place on non-residential buildings rose 10.6 percent in the March 2006 quarter, Statistics New Zealand said today. This follows a rise of 1.1 percent in the December 2005 quarter. When the impact of price changes is removed, the trend in the value for non-residential building work has increased for the latest 11 quarters.

For residential buildings, the seasonally adjusted value of work put in place rose 2.8 percent in the March 2006 quarter, following a rise of 4.8 percent in the December 2005 quarter. Work on residential buildings accounted for 59 percent of all building work in the March 2006 quarter, compared with 60 percent in the previous quarter.

The value of all building work put in place in the March 2006 quarter is estimated at $2,952 million, up $267 million (10 percent) compared with the March quarter last year. After removal of price changes, the increase for this period is 5.7 percent. The trend for the value of all building work put in place shows a rise for the latest two quarters after a flat September 2005 quarter.

Geoff Bascand
Acting Government Statistician

ENDS

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