INDEPENDENT NEWS

Increase in Residential Construction Work

Published: Tue 17 Aug 1999 11:41 AM
Value of Building Work Put in Place - June 1999 quarter
Increase in Residential Construction Work
The seasonally adjusted value of work put in place on residential building projects has increased 5.7 per cent compared with the March 1999 quarter. This reflects recent high levels of building consents issued for construction of new dwellings. The total value of residential construction work in the June 1999 quarter was $1,023.3 million, which is the highest total since the December 1997 quarter. The underlying trend for the value of residential building work put in place has shown an increase for the second consecutive quarter.
The underlying trend for the value of non-residential building work put in place has been declining for three successive quarters. The value of non-residential work in the June 1999 quarter was $625.1 million. Non-residential building consents statistics have also indicated little growth in investment in non-residential building projects. Miscellaneous and multi-purpose buildings were the major contributor to non-residential buildings this quarter. Construction on recreational and sports stadium projects in Auckland and Wellington have influenced the total value for this building type.
When the all building series has been adjusted to remove the effects of seasonality and inflation, the total value of work put in place has increased 2.1 per cent compared with the previous quarter. The underlying trend for the all buildings series has also shown slight increases for two quarters. The strong growth in the residential building series is over-shadowing the continuing decline in non-residential building work.
Ian Ewing
Deputy Government Statistician
16 August 1999

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