More than $15 billion worth of building work was carried out in 2014, Statistics New Zealand said today. The latest value was $2.8 billion higher than in 2013, a 23 percent rise.
"Together, Auckland and Canterbury accounted for $9.7 billion worth of the building work in 2014, nearly two thirds of the national total," business indicators manager Neil Kelly said.
Building activity volume increased again in the December 2014 quarter
After removing price changes and seasonal variations, overall building activity volume edged up 0.3 percent in the December 2014 quarter. Residential building activity led with 4.3 percent growth, while non-residential building activity fell by 5.0 percent.
The trend for residential building activity has grown by two-thirds since the September 2011 quarter. However the current level is 7.0 percent lower than the series peak more than 10 years ago in the June 2004 quarter.
We are changing the way that we measure the value of building work put in place (WPIP).
See changes to how we measure WPIP in the Data quality section.