8 Dec 2008

Slump in new home building

1:43 pm on 8 December 2008

Statistics New Zealand reports that the volume of residential building work has hit a six year low.

When seasonally adjusted, residential building work in the three months to September was down by 7.9% on the previous three months, and by over 20% on a year ago.

However there has been a lift in non-residential building, which rose 5.8% in the last three months.