Residential building activity rises

HAMISH MCNICOL
Last updated 11:31 05/03/2014

Relevant offers

Industries

NZI offers insurance excess waiver to top quarter of trucking firms Booksellers NZ wary as Australia explains limit to 'Amazon tax' NZ's richest businessmen lose millions in sharemarket turmoil Mighty River Power to pay special dividend, operating profit slips to $482m Falling petrol prices mask rising margins After Kirkcaldie & Stains move, Brierley moves on Smiths City NZ Post boosted by Kiwibank Countdown result outshines Australian owner Woolworths Leasing outlook stronger for Marsden Maritime Holdings NZ dollar still low as NZX 50, US dollar and Wall Street strengthen

The value of residential building activity rose 2.5 per cent in the last quarter of 2013 as construction in Canterbury strengthens.

But the value of all building activity increased just 0.6 per cent, or $17 million, after a 2.6 per cent increase in the previous quarter.

Residential building activity rose by $48m in the December quarter, Statistics New Zealand said today.

This was up 2.5 per cent and featured a $27m rise in activity in Canterbury.

Building across the remainder of the country also rose, but at a lesser value of $22m.

Industry and labour statistics manager Blair Cardno said the trend of residential construction in Canterbury contributing much of the growth was strengthening.

Prices for residential building work increased 1.1 per cent over the quarter, while non-residential construction prices were up 1.4 per cent.

Residential activity was up 1 per cent, but non-residential work fell by 3.9 per cent for an overall drop in building activity of 1 per cent.

The trend for non-residential construction work has fallen for most of the past year, to be 11 per cent lower than in March 2013.

Statistics New Zealand said the trend for overall building was flat.

But for residential building work it had been positive for more than two years to be 44 per cent higher than in September 2011.

Ad Feedback

- Fairfax Media

Special offers

Featured Promotions

Sponsored Content