Building activity rises 0.8% on Canterbury construction
BUSINESSDESK: Residential building in Canterbury helped lift New Zealand's national total in the June quarter, Statistics New Zealand says.
Building activity nationwide rose 0.8% to $1703 million in the second quarter. The overall trend continues to rise from the 10-year low point in the September 2011 quarter.
Residential building activity increased 7.1% to $907 million, offsetting a 5.6% fall in non-residential activity to $797 million.
"Seasonally adjusted and trend indicators for Canterbury point to a strong increase in residential building as people start to repair and rebuild their homes following the earthquakes," industry and labour statistics manager Blair Cardno says.
"Residential activity for the rest of New Zealand also rose, but not to the same extent as Canterbury."
The unadjusted value of residential building work rose 14.1% to $1479 million, compared to a year earlier.