The seasonally adjusted volume of building work in New Zealand was $8.2 billion in the June 2024 quarter, down 0.2 percent compared with the March 2024 quarter, according to figures released by Stats NZ today.
"This is the lowest volume of building activity seen in a June quarter since the COVID-impacted June 2020 quarter," construction and property statistics manager Michael Heslop said.
The seasonally adjusted volume of residential building work fell 0.7 percent to $5.2 billion and non-residential building work fell 0.1 percent to $3.0 billion over the same period.
Seasonally adjusted volume estimates remove the effects of price changes and typical seasonal patterns.
| Quarter | Total | Residential | Non-residential |
| Jun-19 | 8109783000 | 5356079000 | 2774133000 |
| Sep-19 | 8084438000 | 5207719000 | 2846352000 |
| Dec-19 | 8061795000 | 5341393000 | 2741200000 |
| Mar-20 | 7681939000 | 5036341000 | 2635824000 |
| Jun-20 | 6266065000 | 4240519000 | 2049174000 |
| Sep-20 | 8243787000 | 5528318000 | 2670561000 |
| Dec-20 | 8257981000 | 5777324000 | 2504792000 |
| Mar-21 | 8617665000 | 5976127000 | 2638161000 |
| Jun-21 | 8429801000 | 5901457000 | 2565195000 |
| Sep-21 | 7705363000 | 5286301000 | 2361524000 |
| Dec-21 | 8350208000 | 5734674000 | 2637980000 |
| Mar-22 | 8417129000 | 5861130000 | 2570652000 |
| Jun-22 | 8505770000 | 5884149000 | 2655037000 |
| Sep-22 | 9016787000 | 6024635000 | 2915068000 |
| Dec-22 | 8721953000 | 5885101000 | 2859354000 |
| Mar-23 | 8638187000 | 5692908000 | 2975518000 |
| Jun-23 | 8730263000 | 5676978000 | 3079772000 |
| Sep-23 | 8593840000 | 5547626000 | 2971341000 |
| Dec-23 | 8491189000 | 5397537000 | 3111003000 |
| Mar-24 | 8219539000 | 5232364000 | 3024063000 |
| Jun-24 | 8200500000 | 5196290000 | 3022056000 |
Annual value of building work down 0.1 percent
The value of building work put in place was $36 billion in the year ended June 2024, down 0.1 percent from the year ended June 2023.
In the year ended June 2024, the value of residential building work was $23 billion, down 4.1 percent compared with the year ended June 2023. The value of non-residential building work was $13 billion, up 7.8 percent over the same period.
Value estimates of building work put in place, in contrast to volume estimates, include changes to building costs over time (such as material and labour costs).
In the 12 months to June 2024, residential construction costs increased by 3.6 percent and non-residential costs increased by 3.7 percent.
Business price indexes: June 2024 quarter has more information on the capital goods price index.
