KEY POINTS:
The value of work put in place on residential buildings rose 3.1 per cent in the December 2006 quarter on a seasonally adjusted basis, Statistics New Zealand said today.
This follows a rise of 7.1 per cent in the September 2006 quarter and a fall of 7.8 per cent in the June 2006 quarter.
When the effect of price changes is removed, there is a rise of 2.3 per cent in seasonally adjusted values.
For non-residential buildings, the value of work put in place rose 3.5 per cent (seasonally adjusted), following a fall of 7.9 per cent in the September quarter. After removal of price changes, the seasonally adjusted rise for the December 2006 quarter is 2.2 per cent.
The real level of non-residential building activity is similar to that recorded two years ago, SNZ said.
The value of all building work put in place in the December 2006 quarter is estimated at $3.32 billion, up $88 million (2.7 per cent) from the December 2005 quarter. But after removing price changes, the value was down 3.0 per cent.
Work on residential buildings accounted for 60 per cent of the value of all building work put in place in the year ended December 2006, the same percentage as in the previous December year.
- NZPA
