Stats show commercial building on the rise

The volume of non-residential building work has increased for the two most recent quarters.Statistics NZThe commercial building sector is faring better than the house-building business.

Statistics NZ's data out yesterday on building activity for the three months to December showed overall building work fell 6.5 per cent. House-building was worst-hit and down 13.4 per cent but commercial work was faring better, up 1.6 per cent.

Commercial buildings are hospitals and nursing homes, office blocks, factories, industrial, accommodation and education buildings.

The latest rise comes on the back of a 5.2 per cent lift in the amount of commercial building in the previous quarter. "The trend indicates that the volume of non-residential building work has increased for the two most recent quarters," Statistics NZ said.

Last year, $5.2 billion worth of commercial work was put in place, up $188 million or 3.7 per cent on 2007.

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Posted: 10 Mar 2009

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