The value of New Zealand building work gained in the September quarter, as both non-residential and residential activity increased, after a relatively flat start to the year, says Statistics New Zealand.
The seasonally adjusted value of total building work rose 4 per cent in the three months ended September 30, having gained 0.9 per cent in the June quarter. Residential work gained 5.2 per cent on a seasonally adjusted basis while non-residential work increased 1.6 per cent in the quarter.
Total building activity advanced 2.7 per cent in the quarter. Residential work rose 4.1 per cent, a number which excludes the effects of higher construction costs and typical seasonal patterns, while non-residential work increased a seasonally adjusted 0.6 per cent in the quarter.
"Residential building activity is at a record high, while non-residential activity peaked in late 2016," construction statistics manager Melissa McKenzie said.
"While the volume of residential building activity is at a record high, the number of new homes consented was higher in the mid-1970s and 2004. This may reflect that homes and alterations being built now are often bigger, more complex, and subject to different regulations."
