New Zealand Home-Building Falls 5% to NZ$17.6 Billion as House Prices Stall
Updated
Updated · Bloomberg · Jun 4
New Zealand Home-Building Falls 5% to NZ$17.6 Billion as House Prices Stall
3 articles · Updated · Bloomberg · Jun 4
Summary
NZ$17.6 billion of residential construction was recorded in the 12 months through March, down 5% from a year earlier and marking New Zealand’s lowest March-year total since 2016.
Stalled house prices and broader global uncertainty weakened demand for new homes and renovation work, dragging building activity lower.
The downturn has deepened from the sector’s 2023 high, with residential construction volume now 25% below that peak.
The figures point to a housing market still struggling to generate enough momentum to revive new building demand.