The value of New Zealand building work was steady in the March quarter while the volume of total building activity dipped, weighed by a slide in non-residential building activity.
The seasonally adjusted value of total building work was unchanged on quarter in the three months ended March 31 after lifting a revised 2 per cent in the December quarter, Statistics New Zealand figures show.
Non-residential work fell 0.5 per cent in the quarter after lifting 4.8 per cent in the prior quarter while residential work increased 0.2 per cent versus a 0.6 per cent increase in the December quarter.
The volume of total building activity, which excludes the effects of higher construction costs and typical seasonal patterns, fell 0.9 per cent in the quarter with non-residential building work falling 1.5 per cent and residential building work falling 0.5 per cent.
Stats NZ construction statistics manager Melissa McKenzie said the slide in total building activity volumes follows rises in the December and September 2017 quarters. "The fall in the latest quarter comes off the back of record high volumes in the December 2017 quarter," she said.
