KEY POINTS:
The value of residential building work put in place rose a seasonally adjusted 4.8 per cent in the June quarter from three months earlier, Statistics New Zealand (SNZ) says.
Non-residential building work fell 6.6 per cent in seasonally adjusted value, reversing a rise of 6.1 per cent in the March quarter.
Removing the impact of price changes, the seasonally adjusted rise in residential building work put in place was 3.6 per cent, while for non-residential work the fall was 6.3 per cent, SNZ said today.
Compared to a year earlier, residential work put in place in the June 2006 quarter was up 16 per cent to $2.1 billion. Removing the impact of price changes, the increase for the period was 10 per cent.
The value of non-residential building work put in place in the June quarter was down 7.4 per cent to $1.2b from a year earlier. After the removal of price changes, the decrease was 10 per cent.
For all building work put in place, the seasonally adjusted value rose 0.3 per cent in the June quarter from the previous three months, following a rise of 2.9 per cent in the March quarter.
Removing price changes the June quarter showed a seasonally adjusted fall of 0.5 per cent, SNZ said.
The value for all building work put in place in the June quarter was up 6.2 per cent from the corresponding three months a year earlier to $3.3b. Removing the impact of price changes, the rise in value was 1.3 per cent.
Trend values, after removal of price changes, show total building work continuing to rise but at a slower rate.
The trend, with price changes removed, for residential building work has risen for the past four quarters, while that for non-residential building work has been flat for the latest four quarters.
For the year ended June, the value of all building work put in place was $12.9b, up 2.4 per cent from the previous June year.
Work on residential buildings accounted for 62 per cent of the value of all building work put in place in the year to June, compared to 59 per cent in the previous June year.
- NZPA
