The total value of building work being undertaken around the country has dropped for nine consecutive quarters, according to Statistics New Zealand.
Stats NZ's latest Value of Building Work report estimates building projects worth $7.19 billion were commenced in the first quarter (Q1) this year, down $452 million (-5.9%) compared to Q1 last year.
The total quarterly value of building work has now been lower than the same quarter of the previous year for nine consecutive quarters. In Q1 this year it was down $1.243 billion (-14.7%) compared to Q1 2024.
Over the year to March 2026, the biggest decline was in the commencement of non-residential building projects, which includes commercial premises such as shops, offices, and factories and public buildings such as schools and hospitals.
Their value declined from $12.669 billion in the 12 months to March 2025, to $11.579b in the 12 months to March this year, a drop of $1.09b (-8.6%).
Residential building projects declined from $20.134b in the 12 months to March 2025, to $19.361b in the 12 months to March this year, a fall of $773 million, (-3.8%).
In the four biggest regions, the biggest drop in total building work in Q1 year-on-year was in Wellington, which was down 14%, followed by Waikato down 9.8%, Auckland down 5.2% and Canterbury down 3.8%.
We welcome your comments below. If you are not already registered, please register to comment
Remember we welcome robust, respectful and insightful debate. We don't welcome abusive or defamatory comments and will de-register those repeatedly making such comments. Our current comment policy is here.