The volume of building work put in place fell a seasonally adjusted 3.2 percent 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 sma
The volume of building work put in place fell a seasonally adjusted 3.2 percent 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 percent, following rises in the previous three quarters totalling 19.7 percent.
Despite the fall in the latest quarter, the volume of residential building work for the September quarter was still 13.3 percent 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 percent or $369 million from a year earlier to $6.31 billion.
For non-residential building, the seasonally adjusted volume slipped 0.7 percent in the September quarter, following rises in the two previous quarters.
The value of non-residential building work dropped 0.9 percent to $1.18b in the September quarter, following a 4.8 percent 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 percent or $539m from the previous year to $4.61b. Commercial buildings dropped 22.2 percent or $365m.
For all buildings, the seasonally adjusted value of all work was down 3.4 percent to $2.77b in the three months to September, following a rise of 7.8 percent in the June quarter.
The unadjusted value of all building work put in place in the September year was $10.9b, down 1.5 percent from the previous year. Residential buildings contributed 57.8 percent of that value, up from 53.6 percent in the September 2009 year.
