RICS: NZ construction activity falls for first time since 2020

Private residential construction activity fell in the last quarter of 2022. (Image: Getty)

Thu, 02 Feb 2023

Activity in New Zealand’s construction sector has fallen for the first time since the second quarter of 2020, according to the Royal Institution of Chartered Surveyors (RICS).In its market monitor for the last quarter of 2022, construction activity fell sharply to a reading of -12%, down from the +19% reported in the third quarter.That was driven by a fall in residential workloads – private residential fell to a net balance of -35%, from +19% in the third quarter.However, infrastructure workloads remained strongly positive, with +29...

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