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Volume of building work down 3.2%

Wednesday 8th December 2010

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The volume of building work put in place fell a seasonally adjusted 3.2% in the September quarter after three consecutive quarterly rises, Statistics New Zealand (SNZ) says.

The decline was led by a fall in the volume of residential work, with a smaller fall in non-residential building.

Residential building fell a seasonally adjusted 5.3%, following rises in the previous three quarters totalling 19.7%.

Despite the fall in the latest quarter, the volume of residential building work for the September quarter was still 13.3% higher than the recent low a year earlier, SNZ said.

The unadjusted value of residential building work put in place in the September year was up 6.2% or $369 million from a year earlier to $6.31 billion.

For non-residential building, the seasonally adjusted volume slipped 0.7% in the September quarter, following rises in the two previous quarters.

The value of non-residential building work dropped 0.9% to $1.18 billion in the September quarter, following a 4.8% rise in the June quarter.

The unadjusted value of non-residential building work put in place in the year to September was down 10.5% or $539 million from the previous year to $4.61 billion. Commercial buildings dropped 22.2% or $365 million.

For all buildings, the seasonally adjusted value of all work was down 3.4% to $2.77 billion in the three months to September, following a rise of 7.8% in the June quarter.

The unadjusted value of all building work put in place in the September year was $10.9 billion, down 1.5% from the previous year. Residential buildings contributed 57.8% of that value, up from 53.6% in the September 2009 year.

 

NZPA



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