Non-Residential Building Work Surges

Value of Building Work Put in Place: June 2005 quarter

Non-Residential Building Work Surges

The seasonally adjusted value of non-residential building work put in place rose 19.4 percent in the June 2005 quarter, following a rise of 8.5 percent in the March 2005 quarter, Statistics New Zealand said today. The latest increase is the largest for non-residential buildings since the March 1993 quarter. After adjusting for price changes, the value of non-residential building work put in place increased 26.9 percent between the June 2004 and June 2005 quarters. Work on non-residential buildings accounted for 41 percent of all building work in the June 2005 quarter compared with 34 percent in the June quarter last year. The trend for the value of non-residential building work put in place has risen during each of the last eight quarters and is now 65 percent higher than at the June 2003 quarter low point.

For residential buildings, the seasonally adjusted value of work put in place fell 1.1 percent in the June 2005 quarter, following a rise of 6.6 percent in the March 2005 quarter. The trend for the value of residential building work has been rising for most of the last four years. The seasonally adjusted value of all building work put in place rose 6.5 percent in the June 2005 quarter, following a rise of 7.3 percent in the March 2005 quarter. The trend for the value of all building work has continued to rise from the March 2001 quarter low point.

Cathryn Ashley-Jones

Acting Government Statistician

ENDS

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