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Rising Trend Continues for Building Work Value

Rising Trend Continues for Building Work Value

The trend for the value of all building work put in place rose 3 percent from the December 2004 quarter to the March 2005 quarter, Statistics New Zealand said today. The trend for the value of all building work put in place has been rising since the March 2001 quarter. The total seasonally adjusted value of all building work also increased, up 7 percent from December 2004.

The trend for the value of residential building work put in place rose 3 percent from the December 2004 quarter, after falling 1 percent between the September and December 2004 quarters. The seasonally adjusted value of residential building work put in place increased 7 percent from the December 2004 quarter to the March 2005 quarter.

The trend for the value of non-residential building work put in place has risen continuously since the June 2003 quarter. The trend level was 21 percent higher in the March 2005 quarter than in the March 2004 quarter. The March 2005 quarter value of non-residential building work put in place increased 25 percent from the previous March quarter. Commercial buildings was the largest contributor, with 32 percent of the total non-residential value, followed by miscellaneous buildings, and hotels and boarding houses with contributions of 26 percent and 12 percent, respectively.

After adjusting for price changes, the value of all building work put in place increased 6 percent between the March 2004 and March 2005 quarters.

Brian Pink

Government Statistician

END


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