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Residential Construction Increasing

The trend in the value of building work put in place on residential construction increased 2.5 percent in the June 2002 quarter, according to Statistics New Zealand. The trend series for residential building work put in place has been increasing since the March 2001 quarter.

The value of residential building work put in place in the June 2002 quarter was $1,112 million. The trend in the value of non-residential building work put in place has increased by 1.4 percent in the June 2002 quarter.

Due to the volatility in the value of building work put in place in recent quarters, changes to series should be interpreted with caution, especially in regard to the seasonally adjusted series and trend series.

The value of all building work put in place for the year ended June 2002 was $7,326 million, which was a 9.5 percent increase on the year ended June 2001.

Brian Pink Government Statistician

END


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