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Building activity reaches $4 billion
Embargoed until 10:45am  –  03 December 2014

Value of Building Work Put in Place: September 2014 quarter  –  Media Release

In current prices, the unadjusted value of all building activity in the September 2014 quarter reached $4 billion for the first time, Statistics New Zealand said today.

The $4 billion included $2.5 billion worth of residential building work, and $1.5 billion of non-residential building work. 

In volume terms, after removing price changes and seasonal variations, building activity increased again in the September 2014 quarter.

"Overall building activity volume increased 1.5 percent in the September 2014 quarter, growing for the 10th quarter in a row," business indicators manager Neil Kelly said.

Non-residential building activity volume grew a seasonally adjusted 4.4 percent, and residential building activity fell by 0.7 percent.

"The trend for non-residential building activity has nearly reached the same level as the series high in the March 2006 quarter," Mr Kelly said. The current level is just 0.6 percent lower.

We are changing the way that we measure the value of building work put in place (WPIP).

See changes to how we measure WPIP in the Data quality section.

Ends

For media enquiries contact: Neil Kelly, Christchurch 03 964 8700, info@stats.govt.nz

Authorised by Liz MacPherson, Government Statistician, 3 December 2014

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