The volume of building activity in New Zealand rose 2.6 percent in the June 2022 quarter, compared with the March 2022 quarter, Stats NZ said today.
Residential activity rose 3.2 percent in the June 2022 quarter, while non-residential activity rose 1.6 percent.
These volume estimates remove the effects of price changes and typical seasonal patterns. Between the March 2022 and June 2022 quarters, residential building costs rose by 4.2 percent, and non-residential building costs by 3.6 percent .
| “Quarter” | “Non-residential” | “Residential” | “Total building” |
| “Jun-17” | 1118104000 | 1663460000 | 2781564000 |
| “Sep-17” | 1123437000 | 1721039000 | 2844476000 |
| “Dec-17” | 1164620000 | 1710075000 | 2874695000 |
| “Mar-18” | 1137976000 | 1702026000 | 2840002000 |
| “Jun-18” | 1166575000 | 1724596000 | 2891171000 |
| “Sep-18” | 1160598000 | 1734402000 | 2894999000 |
| “Dec-18” | 1230257000 | 1755940000 | 2986197000 |
| “Mar-19” | 1330863000 | 1835916000 | 3166779000 |
| “Jun-19” | 1284641000 | 1835181000 | 3119822000 |
| “Sep-19” | 1307199000 | 1813122000 | 3120321000 |
| “Dec-19” | 1268390000 | 1825318000 | 3093708000 |
| “Mar-20” | 1216939000 | 1712033000 | 2928973000 |
| “Jun-20” | 949434000 | 1450333000 | 2399767000 |
| “Sep-20” | 1225401000 | 1936968000 | 3162369000 |
| “Dec-20” | 1159852000 | 1973241000 | 3133093000 |
| “Mar-21” | 1217257000 | 2021760000 | 3239017000 |
| “Jun-21” | 1189494000 | 2015507000 | 3.205e+09 |
| “Sep-21” | 1082417000 | 1863556000 | 2945973000 |
| “Dec-21” | 1226896000 | 1970901000 | 3197797000 |
| “Mar-22” | 1214502000 | 2018278000 | 3232780000 |
| “Jun-22” | 1233331000 | 2082599000 | 3315930000 |
High construction costs drive value increase
The value of building work put in place was just under $31 billion in the year ended June 2022. This is up 12 percent compared with the year ended June 2021.
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).
“Most of the increase in the total value in building work is the result of increasing costs seen for both residential and non-residential buildings,” construction and property statistics manager Michael Heslop said.
“In the past 12 months residential building costs rose 17 percent, while non-residential building costs rose 11 percent.”
Factories and industrial buildings up 36 percent
The value of non-residential building activity was 8.1 percent higher in the year ended June 2022 compared with the year ended June 2021.
The building types with the largest increases in value were:
- factories and industrial buildings, up 36 percent to $1.4 billion
- education buildings, up 18 percent to $1.7 billion
- hospitals, nursing homes, and health buildings, up 32 percent to $940 million.
| Building Type | $ |
| Factory | 362327000 |
| Education | 249459000 |
| Health | 228347000 |
| Offices | 187827000 |
| Storage | 183270000 |
| Farm | 31946000 |
| Social | -50953000 |
| Shops | -56688000 |
| Accommodation | -412123000 |
Methodology
We have updated data for the June 2021 quarter onwards to reflect improved survey information.
See Methodology for Value of building work put in place: June 2022 quarter for more information.
