Steady Rise in Residential Construction Activity

Steady Rise in Residential Construction Activity

The trend in the value of work put in place on residential construction has been steadily increasing since the March 2001 quarter, according to Statistics New Zealand. The value of residential building work put in place was $1,358 million in the September 2002 quarter. For the year ended September 2002, the actual value of residential building work put in place was $4,599 million, up $902 million or 24.4 percent, compared with the year ended September 2001.

The value of non-residential building work put in place was $841 million in the September 2002 quarter. The non-residential building work trend has increased in the last two quarters after having decreased in the previous two quarters. For the year ended September 2002, the value of non-residential building work put in place was $3,129 million, up $118 million or 3.9 percent, compared with the year ended September 2001.

The value of all building work put in place for the September 2002 quarter was $2,199 million. The trend in the value for all building construction has generally been increasing since the March 2001 quarter. For the year ended September 2002, the actual value of all building work put in place was $7,727 million, up $1,021 million or 15.2 percent, compared with the year ended September 2001.

Brian Pink

Government Statistician

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