NZ house building grows at fastest quarterly pace since 2002 in March

Tue, 03 Jun 2014

By Paul McBeth June 4 (BusinessDesk) - New Zealand house building activity grew at its fastest pace in almost 12 years in the first quarter as construction ramped up to rebuild the country's second-biggest city and fill a housing shortage in Auckland. The volume of residential building work put in place grew a seasonally adjusted 15 percent in the three months ended March 31, the biggest quarterly increase since September 2002, and accelerating from a 2.3 percent rise in the December quarter, according to Statistics New Zealand. The value...

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