Source: Statistics New Zealand
Building activity down 3.2 percent in September 2024 quarter – 5 December 2024 – The seasonally adjusted volume of building work in New Zealand was $7.8 billion in the September 2024 quarter, down 3.2 percent compared with the June 2024 quarter, according to figures released by Stats NZ today.
Residential building work fell 3.5 percent to $4.8 billion and non-residential building work fell 2.8 percent to $2.9 billion over the same period.
“Quarterly residential building activity reached its lowest level in four years, in seasonally adjusted terms,” economic indicators spokesperson Michael Heslop said.
Seasonally adjusted volume estimates remove the effects of price changes and typical seasonal patterns.
