Building activity has increased by nearly 41% in the last two years
Quarterly building activity passed the $4 billion mark for the first time in the September quarter, according to Statistics NZ's Value of Building Work Put in Place survey.
It found that $4.013 billion of work was being undertaken during the September quarter, compared with $3.764 billion in the June quarter and $3.283 billion in the September quarter of last year.
Of that, $2.472 billion related to the construction of new dwellings and $450 million was for alterations or additions to existing dwellings.
The remaining $1.541 billion of work was being undertaken on non-residential buildings, with $533 million of that being commercial buildings such as shops and offices and another $161 million being industrial buildings.
On an annual basis, $14.578 billion of buildings work was undertaken in the year to September, compared to $12.166 billion in the year to September 2013 and $10.366 billion in the year to September 2012, an increase of 40.7% over the last two years.
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