Residential Building Work Drops

8 September 2006

Residential Building Work Drops

The value of work put in place on residential buildings fell 9.1 percent in the June 2006 quarter on a seasonally adjusted basis, Statistics New Zealand said today. This follows a rise of 3.6 percent in the March 2006 quarter. When the impact of price changes is removed, the trend in the value for residential building work put in place has decreased for the latest two quarters.

For non-residential buildings, the value of work put in place decreased 3.6 percent (seasonally adjusted) in the June 2006 quarter, following a rise of 11 percent in the March 2006 quarter. The trend for the value of non-residential building work continues to rise, even after removal of price change.

The value of all building work put in place in the June 2006 quarter is estimated at $3,124 million, down $82 million (2.5 percent) from the June quarter last year. After removal of price changes, the decrease for this period is 7.2 percent.

Work on non-residential buildings accounted for 41 percent of the value of all building work put in place in the year ended June 2006, compared with 38 percent for the previous June year.

Cathryn Ashley-Jones

Acting Government Statistician

ENDS

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