Work for builders disappearing

[MotherBear]

Work for builders disappearing
12:30PM Monday June 09, 2008

The value of residential building work fell 6.6 per cent in the March quarter.

The figures out today from Statistics New Zealand (SNZ) follow a fall of 2 per cent in the December quarter, and highlight the impact economic slowdown is having on the property sector.

The figure takes into account price changes and seasonal fluctuations.

Non-residential building work fell 5.9 per cent in the March quarter, after rising 12 per cent in the December quarter.

Those changes were largely due to work on commercial buildings, SNZ said.

The value of all building work fell 6.3 per cent in the March quarter, following a rise of 3.1 per cent in the preceding three months.

The trend for residential building work had decreased for the latest two quarters, while for non-residential building work it increased for the latest three quarters, SNZ said.

The actual value of all building work was $3.08 billion in the March quarter, with 62 per cent from residential work and 38 per cent from non-residential work.

While Easter had the potential to affect the value of building work for the March quarter when it fell in March, as it had this year, it was not possible to quantify the impact, SNZ said.

- NZPA

From here .

[Taffy]

Eh?

Do the papers have nothing better to report on than 'Well, value went up in the last 3 months but has dropped last month so all builders are heading for disaster, but due to easter we dont really know'.

Classic Kiwi example of news about nothing, made intereting by statistics that also mean nothing! A drop in the value of building work doesnt mean a drop in building work, and as they say in the article, this is based on decreasing property values rather than just building work.

It's funny, but in all honesty if the newspapers only reported on real, worthwhile news, all they would have is a pamphlet.