Residential construction slows in December

(Image: Getty)

Mon, 06 Mar 2023

The volume of residential construction slowed in the December quarter, snapping four quarters of growth. Statistics New Zealand figures show the volume of all work shrank 1.6% in the three months ended Dec 31, due to a 2.6% contraction in residential work. Non-residential work grew 0.4% in the quarter. Westpac economist Satish Ranchhod said the decline in activity surprised him – he’d predicted 1% growth – but that the sector continued to run hot. “We don’t expect a sudden drop off in building activi...

Subscribe to BusinessDesk

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

You can cancel anytime with two clicks, an email or a phone call.
Find out more.

We are serious about journalism.

Already a Subscriber ? Sign in here.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].name) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

On the Money

On the Money: Oli Lewis, Andrew Hoggard, and more

How to save $6, plus other bits of sometimes-helpful, sometimes-pointless information.

Dileepa Fonseka 5:00am

Technology

Nvidia to invest US$5b in Intel

Joint announcement sends Intel shares soaring 25%.

The Wall Street Journal 5:00am

Opinion

Eden Bradfield: How Wattie’s sauce got squeezed

What the peach problems say about multinationals in NZ.

Eden Bradfield 5:00am

Sponsored

Future leaders start by Dreaming Big

How OnBeingBold empowers Year 13 girls at free leadership events.

OnBeingBold

Sponsored

Free AI training blitz targets 10,000 Kiwis

Workshops aim to close NZ’s AI skills gap and boost productivity – no tech skills required.

Sponsored by Lumify

More Economy

Economy

Willis teases new RBNZ governor after GDP drop

Finance Minister Nicola Willis says a new Reserve Bank of New Zealand governor will be announced “very shortly” as she comes under growing pressure to tackle NZ’s economic woes.Economists are calling on the RBNZ to cut the official cash rate (OCR) more aggressively after yesterda...

Staff reporters 19 Sep 2025