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News » International » New Zealand building activity slips » published 6 Sep 2017

New Zealand building activity slips

The winding-down of post-earthquake construction in Canterbury is resulting in a fall in New Zealand’s building activity.

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Total building activity, in seasonally adjusted volume terms, fell 0.5% in the June 2017 quarter, Stats NZ said. Non-residential building activity was down 0.7% and residential building activity was down 0.4%, compared with the March 2017 quarter.

"This is the second quarter in a row that building activity has fallen, as the post-earthquake residential rebuild in Canterbury winds down," prices and construction senior manager Jason Attewell said. "In unadjusted terms, building activity in Canterbury slipped to just under $1 billion [£555m] a quarter for the first time in almost three years."

In Auckland, overall building activity was almost $2 billion in the June 2017 quarter, including NZ$1.3bn on residential buildings. Non-residential building activity rose a seasonally adjusted 18%, following an 18% fall in the March 2017 quarter. The actual value in the June quarter was NZ$671m, near the December 2016 quarter high-point of NZ$703m.

Nationally, the actual value of building work on new homes was NZ$2.8bn in the June 2017 quarter, making a total of NZ$3.4bn of residential work including alterations and additions. There was also NZ$1.8bn of work on non-residential buildings.

 

MPU

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This article was published on 6 Sep 2017 (last updated on 6 Sep 2017).

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