Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Building Work Bounces Back

Building Work Bounces Back


Residential building activity volumes rose 4.1 percent in the September 2017 quarter, following a relatively flat period in the first half of the calendar year, Stats NZ said today. This figure excludes the effects of higher construction costs and typical seasonal patterns.

Non-residential building work, from office blocks to factories, also picked up, rising a seasonally adjusted 0.6 percent, following falls in the previous two quarters.

Combined, total building activity volumes rose 2.7 percent in the September 2017 quarter compared with the June 2017 quarter.

“Residential building activity is at a record high, while non-residential activity peaked in late 2016,” construction statistics manager Melissa McKenzie said.

“While the volume of residential building activity is at a record high, the number of new homes consented was higher in the mid-1970s and 2004. This may reflect that homes and alterations being built now are often bigger, more complex, and subject to different regulations.”

These quarterly statistics are a measure of past building activity, whereas building consents issued, which showed a decrease in the October 2017 month, is an indicator for the pipeline of upcoming building work.


ENDS


© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Collecting Scalpers: Commerce Commission To Sue Viagogo

The Commission will claim that Viagogo made false or misleading representations: • that it was an “official” seller, when it was not • that tickets were limited or about to sell out • that consumers were “guaranteed” to receive valid tickets for their event • about the price of tickets... More>>

ALSO:

Price Of Cheese: Fonterra CEO Goes Early After Milk Price Trimmed

Aug. 15 (BusinessDesk) - Fonterra Cooperative Group chief executive Theo Spierings is leaving the role early after the world's biggest dairy exporter lowered its farmgate payout and trimmed its dividend to retain cash. More>>

ALSO:

9.2 Percent: Gender Pay Gap Second-Smallest On Record

This is the second-smallest gap since the series began 20 years ago. In comparison, the gender pay gap was 9.1 percent in 2012 (the lowest on record) and 9.4 percent last year. More>>

ALSO:

Forest & Bird: Report Find Council Failures On Effluent

The report exposes significant inconsistencies and gaps in how regional councils are enforcing the rules around dairy effluent management. More>>

ALSO:

Mana In Mahi: Helping Young New Zealanders Into Work

Thousands of young people will be given the chance to gain valuable qualifications and meaningful work under the Mana in Mahi – Strength in Work scheme launched by Prime Minister Jacinda Ardern today. More>>

ALSO:

Reserve Bank: Official Cash Rate Unchanged At 1.75 Percent

The Official Cash Rate (OCR) remains at 1.75 percent. We expect to keep the OCR at this level through 2019 and into 2020, longer than we projected in our May Statement. The direction of our next OCR move could be up or down. ... More>>