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Residential building activity falling in Auckland and Christchurch

Residential building activity falling in Auckland and Christchurch

There has been a decline in the amount of building work being undertaken, according to the latest Survey of Building Work Put in Place conducted by Statistics NZ.

It found that residential building activity declined by 0.4% in the second quarter of this year compared to the first quarter, and non-residential building activity declined by 0.7%.

That gave an overall decline of 0.5% for all building types.

In Auckland the amount of residential building activity declined by 1.1% in the second quarter of the year, following a 0.1% decline in the first quarter.

However non-residential building activity in Auckland was up 18.1% in the second quarter although that followed a 17.6% decline in the first quarter.

In Canterbury residential building activity has declined for four consecutive quarters, and was down 4.2% in the second quarter of this year compared to the first quarter.

Non-residential building activity in Canterbury is also down and has declined for four consecutive quarters, falling another 3.8% in the second quarter of this year compared to the first quarter.

"This is the second quarter in a row that [NZ] building activity has fallen, as the post-earthquake residential rebuild in Canterbury winds down," Statistics NZ prices and construction manager Jason Attewell said.

"In unadjusted terms, building activity in Canterbury slipped to just under $1 billion a quarter for the first time in three years."

 

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3 Comments

Oh dear......

This could lead to an escalation in house prices.

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Expectations were for a rise of 1.6% for the quarter, following last quarters large fall. Construction will detract from GDP for the second quarter in a row. Readymix concrete numbers suggest constructions peak has passed.

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Great photo, lol

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