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Residential building work up
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Residential building work up
The value of residential building work put in place rose 4.8 percent in the June 2007 quarter (on a seasonally adjusted basis), Statistics New Zealand said today. This follows a 0.8 percent increase in the March 2007 quarter. When the impact of price changes is removed, the value of residential building work rose 3.6 percent for the June 2007 quarter.
Work on non-residential buildings fell 6.6 percent in the June 2007 quarter (on a seasonally adjusted basis), reversing a rise of 6.1 percent in the March quarter. After removal of price changes, the value for the June quarter fell 6.3 percent.
Trend values, after removal of price changes, show total building work continuing to rise but at a slower rate. Residential building work has risen for the past four quarters, while non-residential building work has generally been declining from the March 2006 quarter high point.
Work on residential buildings accounted for 62 percent of the value of all building work put in place in the year ended June 2007, compared with 59 percent for the previous June year.
Geoff Bascand
Government Statistician
7
September
2007
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