Residential building work up

The value of residential building work put in place rose 4.8 percent in the June 2007 quarter (on aseasonally adjusted basis), Statistics New Zealand said today.

This follows a 0.8 percent increase in theMarch 2007 quarter.

When the impact of price changes is removed, the value of residential buildingwork rose 3.6 percent for the June 2007 quarter.

Work on non-residential buildings fell 6.6 percent in the June 2007 quarter (on a seasonally adjusted basis),reversing a rise of 6.1 percent in the March quarter.

After removal of price changes, the value for the Junequarter fell 6.3 percent.Trend values, after removal of price changes, show total building work continuing to rise but at a slowerrate.

Residential building work has risen for the past four quarters, while non-residential building work hasgenerally been declining from the March 2006 quarter high point.

Work on residential buildings accounted for 62 percent of the value of all building work put in place in theyear ended June 2007, compared with 59 percent for the previous June year