Residential building activity volumes rose 4.1 percent in the September 2017 quarter, following a relatively flat period in the first half of the calendar year, Stats NZ said. This figure excludes the effects of higher construction costs and typical seasonal patterns.
Non-residential building work, from office blocks to factories, also picked up, rising a seasonally adjusted 0.6 percent, following falls in the previous two quarters.
Combined, total building activity volumes rose 2.7 percent in the September 2017 quarter compared with the June 2017 quarter.
“Residential building activity is at a record high, while non-residential activity peaked in late 2016,” construction statistics manager Melissa McKenzie said.
“While the volume of residential building activity is at a record high, the number of new homes consented was higher in the mid-1970s and 2004. This may reflect that homes and alterations being built now are often bigger, more complex, and subject to different regulations.”
These quarterly statistics are a measure of past building activity, whereas building consents issued, which showed a decrease in the October 2017 month, is an indicator for the pipeline of upcoming building work.
Source: Stats NZ