NZ construction value hits 18-month high in June quarter

The value of New Zealand’s total building work hit an 18-month high in the June quarter as the construction sector bounces back from a slump.

The total value of building work put in place rose to $2.89 billion in the three months ended June 30, according to Statistics New Zealand, the highest since the December quarter in 2008. The value of residential work surged 21% to $1.69 billion from the March quarter, while commercial work gained 13% to $1.91 billion.  

Construction has bounced back from its low in September last year, though it’s still 18% below a peak in December 2007, and the sector will get a fillip from the rebuilding of Christchurch after the 7.1 magnitude earthquake caused some $4 billion worth of damage to the city.

Businesswire.co.nz

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

Spark New Zealand appoints new director to the Spark Board
AFT to announce full year results on May 23 2024
CRP - Korella North Takes Another Two Steps Forward
May 3rd Morning Report
ASB workers to strike as bank proposes an effective pay cut
Rising tides, sinking stocks: study explores cost of climate change
May 2nd Morning Report
AGL - Change in Senior Management
Devon Funds Morning Note - 01 May 2024
Rick Christie to step-aside as a non-executive director