Tuesday 8th March 2011
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The seasonally adjusted volume of building activity rose 1.1% in the December quarter, compared to the three months to September, Statistics New Zealand (SNZ) says.
The overall volume increase included a 10.6% rise in non-residential building work and a 7.1% fall in residential work.
The rise in the volume of non-residential building work was the fourth in a row, and took it above the volume of residential building work for only the second time since the series began in 1989, SNZ said today.
The seasonally adjusted value of residential building work fell 7.1%, while the value of non-residential work lifted 11%, and the value of all work rose 0.6%.
Unadjusted, the value of residential building activity in the December quarter was 3.1% lower than a year earlier at $1.51 billion, while the value of non-residential building gained 18.8% to $1.34 billion, and for all buildings it was up 6.1% to $2.85 billion.
For the year to December, residential building activity was 6.5% up on a year earlier to $6.26 billion, non-residential work fell 1.6% to $4.82 billion, while the total value of all building work was up 2.8% to $11.08 billion.
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