Value of building work continues to rise

The seasonally adjusted value of all building work put in place in the March quarter rose 7.3 per cent compared to the December quarter and 13.8 per cent on the year-earlier, Statistics New Zealand said today.

Residential building work contributed 63 per cent to the total value, compared with 66 per cent in the previous March quarter.

Residential building work put in place in the March quarter was worth $1.689 billion, up 7.4 per cent compared to the December quarter, and 8.2 per cent on the same time last year.

The seasonally adjusted value of non-residential building hit $996 million in the March quarter, up 7.2 per cent compared to the December quarter, and 24.7 per cent on the previous March quarter.

Commercial buildings, which include shops, restaurants, taverns, offices and administrative buildings contributed $321 million, or 32 per cent, to the March quarter non-residential buildings total.

This was followed by miscellaneous buildings worth $259 million, or 26 per cent, and hotels and boarding houses worth $121 million, or 12 per cent.

Quarterly Employment Survey statistics for the March quarter showed that total paid hours in construction rose 19 per cent in the March quarter, compared to the previous March quarter.

- NZPA