Value of building work on the rise in June quarter

11.25am

The value of residential building work carried out in the June quarter was up 26 per cent on the same period last year, and 11 per cent on the March quarter, Statistics New Zealand (SNZ) said today.

SNZ said in a statement the value of residential value work for the three months ended June was $1910 million, up $395 million on the June quarter of last year.

SNZ said the trend for the value of residential building work put in place has been rising since the March 2001 quarter.

The value of non-residential building work put in place in the June quarter was $989 million, up $231 million, or 31 per cent, on the same period last year and up 14 per cent on the March quarter.

Commercial buildings and miscellaneous buildings each contributed $265 million or 27 per cent of the total for the quarter.

The trend for non-residential building work has been rising since the March 2003 quarter.

The total value of all building work put in place in the June quarter was $2899 million, up $626 million, or 28 per cent on the year-earlier and 12 per cent on the March quarter.

The trend for the value of all building work put in place has been on the rise since the March 2001 quarter.

- NZPA