Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


NZ building work climbs in June quarter

NZ building work climbs in June quarter, swelled by non-residential activity

By Paul McBeth

Sept. 3 (BusinessDesk) - New Zealand construction activity expanded for a second quarter, swelled by non-residential work as the focus of the Canterbury rebuild shifts to commercial buildings.

The volume of building work put in place across all buildings rose a seasonally adjusted 1.6 percent in the three months ended June 30, from a 1.8 percent pace of expansion in the March quarter, according to Statistics New Zealand. Of that, non-residential work grew 5.2 percent, accounting for about 44 percent of activity in the period, while residential work shrank 1 percent.

On a value basis, all building work rose 2.2 percent in the quarter, with a 5.9 percent gain in non-residential work and a 0.1 percent increase in residential activity.

"The value of both residential and non-residential building work increased overall," business indicators manager Neil Kelly said in a statement. "In Auckland, residential work grew, while in Canterbury most of the growth was in non-residential work."

Building activity is forecast to remain robust over the next six years, with $209.4 billion of work projected over that period, peaking in 2016 at $36.5 billion of work. The bulk of that is associated with house building in Auckland, where builders are under pressure to erect properties to meet unsatisfied demand in the country's biggest city.

The August ANZ Business Outlook published this week showed a net 12 percent of respondents in the construction sector see increased investment in residential building over the coming year, while a net 9.4 percent see a contraction in commercial activity.

Today's data show Auckland residential work rose a seasonally adjusted 4.8 percent in the three months through June, its eighth quarterly expansion, while house building shrank 4.3 percent in Canterbury. In non-residential work, Auckland activity shrank 3.3 percent, its third quarterly contraction, while Canterbury work grew 18 percent, the biggest expansion since September 2013.

On an unadjusted basis, the value of all building work rose 7.9 percent in the June quarter to $4.06 billion from the same period a year earlier, for an annual increase of 15 percent to $15.96 billion.

Residential building work rose 7.3 percent to $2.5 billion in the quarter from June 2014, with new dwellings were up 9.3 percent to $2.03 billion, while non-residential work expanded 8.8 percent to $1.56 billion.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Foodstuffs: New World & Four Square Trial NZ’s First Grocery Delivery Offer With Uber Eats

New World & Four Square have partnered with Uber Eats to unlock the first grocery offering available on the platform in Aotearoa. For New World and Four Square it’s yet another way to put New Zealanders first, particularly with those inevitable last-minute grocery needs... More>>

Digitl: Download 2.0 – Vodafone Wi-Fi Calling hits early milestone
Vodafone says it has 10,000 customers using its Wi-Fi Calling service. It took less than three months to reach that milestone; the service began operating in September... More>>

Energy Resources Aotearoa: New Law On Decommissioning Could Be Costly Overkill
A new law on decommissioning oil and gas fields passed by Parliament today has good intentions but is overkill, according to Energy Resources Aotearoa. "We strongly support operators taking responsibility and paying the costs for decommissioning, which is what all good operators do," says chief executive John Carnegie... More>>

ABC Business Sales: Demand High For Covid-proof Businesses
Despite the continuing challenges facing businesses in this Covid environment, right now there are more buyers looking for a small-medium sized business than there are sellers in the market... More>>

PriceSpy: Producer Prices Increase
New Black Friday and Covid-19 Report* released by PriceSpy says people’s fear of stepping inside physical shops during big sales events like Black Friday has risen since last year; Kiwis are still planning to shop, but more than ever will do it online this year... More>>

NZ Skeptics Society: Announce Their 2021 Awards, And Dr Simon Thornley Wins The Bent Spoon

Every year the New Zealand Skeptics presents its awards to people and organisations who have impressed us or dismayed us, and this year it’s been hard to pick our winners because there have been so many choices!.. More>>

REINZ: Sales Volumes Leveling Out

Data released today by the Real Estate Institute of New Zealand (REINZ) shows there were 44 fewer lifestyle property sales (-2.6%) for the three months ended October 2021 than for the three months ended September 2021... More>>