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.

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 }}

Markets

'Vindicated': AFT's Aussie investment pays off

Increased marketing spending across the Tasman concerns some people, AFT's CEO says.

Rebecca Stevenson 10:55am

Primary Sector

Kiwifruit record: Zespri achieves $5b sales milestone

Zespri sold a record 220.9 million trays of kiwifruit in 2024-25.

Staff reporters 10:12am

Kiwifruit record: Zespri achieves $5b sales milestone

The Quiz Free

QuiznessDesk, Thursday, May 22

Can you beat the Quizmaster?

The Quizmaster 9:15am

Sponsored

Tired of missing out on getting to global summits to help grow your business?

Airwallex is offering a grant for NZ businesses to join the action.

Airwallex

Sponsored

Ready for the C-Suite leap?

Part-time programme. Full-time leadership transformation.

University of Auckland Business School

More Economy

Primary Sector

Record gold prices boon for scrap buyers

New Zealanders are looking for money to be made in their jewellery drawers.

Gregor Thompson 5:00am

Economy

Budget 2025: Five things to watch at 2pm

Who will win and who will lose?

Rebecca Howard 5:00am

Retail

Smith & Caughey’s to close

Auckland’s flagship department store Smith & Caughey’s will close for good within 10 weeks, with the loss of almost 100 jobs.A rescue attempt to save the famous retailer – which saw it close its Newmarket store last year and reduce the floor space of its ‘Grande Dame’ Queen St bu...

NZME 21 May 2025

Economy

Business inflation expectations heating up

Inflation expectations are on the rise.

Rebecca Howard 21 May 2025

Residential construction slows in December

More Economy

Your company has a subscription

Team