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Decline in Building Activity

Decline in Building Activity

Value of Building Work Put in Place: June 2000 quarter

Building activity has declined, Statistics New Zealand's June quarter figures show, with seasonally adjusted total construction work put in place falling by 18.7 per cent.

The main driver of the fall has been in residential construction where the seasonally adjusted value of work put in place fell by 24.9 per cent. Non-residential construction also declined, but at a lesser rate of 7.2 per cent seasonally adjusted.

The latest figures suggest a drop in the rate of growth in the trend in construction activity since the September 1999 quarter, however, a higher level of activity reported on apartment building construction in the March 2000 quarter has partially masked the underlying pattern.

There has been a corresponding decline in building consents issued for both residential and non-residential buildings.

Commercial buildings comprised the greatest proportion of the non-residential work put in place, with $240 million worth of construction. This total is being driven by a number of retailing outlet projects.

Ian Ewing Deputy Government Statistician
END


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