Residential building picks up

The seasonally adjusted volume of residential building activity rose 7.4 per cent in the December quarter, while non-residential volume fell 6.1 percent.

That left the seasonally adjusted change in the volume of all building work up 0.7 per cent, Statistics New Zealand (SNZ) said today.

The rise in the residential volume was the largest since 2004, while the fall in non-residential activity was the third in a row and meant the volume was 12.9 percent lower than in the March 2009 quarter.

For the December 2009 year, the unadjusted value of all building activity was $10.8 billion, down 13.7 percent from the previous year.

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