Published: 8 March 2005
The $11.3 billion of building work completed in 2004 was an alltime record in a comparison on 1991 dollar values, Statistics NZ said today.
In 14-year-old money, the year’s building work put in place was worth $7.6 billion, 9% more than work completed in 2003.
Residential & non-residential annual values of building work were also at record highs in 2004. The residential value rose 6% from 2003, non-residential 12%.
Statistics NZ said the value of residential work rose 7% from the December 2003 quarter to the December 2004 quarter, but fell 4% (seasonally adjusted) from September. The trend turned in the September quarter, falling in both the September & December quarters.
Non-residential work rose 22% (actual) over the year, all building work 12% actual. After adjusting for price changes, the rise for all work was 4%. Seasonally adjusted, the value of all building work fell 3% from September.