Value of Building Work Put in Place

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Abstract

The Value of Building Work Put In Place has been conducted since 1965. It was introduced to supplement building consent statistics as an economic indicator. Information for the series is obtained from building consents and from a postal survey called the Quarterly Building Activity Survey (QBAS). Building consents are the frame for QBAS - see Building Consents Issued

Whereas the monthly Building Consents Issued series is an early economic indicator of the intention to build, the Value of Building Work Put in Place series is designed to measure the actual value of work done each quarter on buildings.

Purpose

The purpose of the quarterly Value of Building Work Put in Place is to provide an estimate of the value and volume of work put in place on construction jobs in New Zealand. The value of building work includes residential building work and non-residential building work, which are summed to give all building work. The Value of Building Work put in Place measures activity in the construction sector, and complements building consents issued information (which represents the intention to build).

Citation Information

Title

Value of Building Work Put in Place

Alternate Title

Quarterly Building Activity Survey

Creator

Statistics New Zealand: Business Indicators

Publisher

Statistics New Zealand

Rights

Statistics New Zealand

Coverage Information

Temporal Coverage

  • 1965-06

Topical Coverage

  • Business statistics
  • Macroeconomic statistics
  • Economic accounts
  • Business and agricultural surveys

Studies

Publication

Significant events impacting this study series

COVID-19 and the March 2020 quarter

From 23 to 26 March 2020, New Zealand transitioned from COVID-19 alert level 2 to level 4 and remained at level 4 for the final days of the March 2020 quarter. We adjusted both the modelled and survey components of the building activity estimates, published as Value of building work put in place: March 2020 quarter:

  • We reduced the value of the modelled component by about 8.2 percent, the equivalent of five fewer working days than usual in the March 2020 quarter. We chose that to account for the lost four working days of lockdown and activity easing in the days leading up to lockdown.
  • We achieved a normal response rate for the survey of high-value projects, but due to questionnaire wording, some respondents did not provide a value of work put in place. We used standard imputation techniques to impute a quarterly value for some of these, while for others we made a careful estimate.

We published the March 2020 quarter as a provisional estimate that may be revised when the June 2020 quarter is published.

See COVID-19 lockdown and value of building work put in place for March 2020 quarter for more information.

Quarterly survey collection mode change 2019

In the March 2019 quarter we introduced an online data collection, replacing paper questionnaires that had administered by post for over 50 years.

Methodology change 2015

In the March 2015 quarter we introduced methodology based on modelled administrative data, supplemented by a postal survey, to estimate the value of building work put in place. This replaced a stratified sample survey that had been used for 50 years. For further information, see Data Collections/ Value of Building Work Put in Place from December 2014 quarter.

Constant price series

From the June 2006 quarter, the method for calculating the constant price series (ie the price deflated series) was updated to be based on September 1999 quarter prices.

Deflation of values 1998

Deflated values (volumes) for residential buildings, non-residential buildings and all buildings was implemented from the March 1998 quarter.

Building type change 1996

From the September 1996 quarter, consents received for Buildings with multiple purposes were split up and coded under more than one building type. Prior to this time the work was coded to Miscellaneous and Multipurpose.

Seasonal adjustment methodology change 1994

The seasonal adjustment methodology changed, when the figures for the December 1994 quarter were released, from fixed quarterly forward factors to concurrent seasonal adjustment. In addition, all seasonally adjusted figures are now subject to revision each quarter. This enables the seasonal component to be better estimated and removed from the series.

Building Consents

Under the building regulations effective from 1 January 1993, building authorisations are applied for under the Building Consents system administered by territorial authorities. Prior to this date, applications were made under the Building Permits system. The Building Consents system, however, has wider coverage than the Building Permits system. The additional coverage includes some government building (particularly work on education buildings) and on-site drainage and reticulation work.

Data is available from Infoshare http://www.stats.govt.nz/infoshare/

Usage and limitations of the data

Usage The quarterly Value of Building Work Put in Place statistical series is the best available measure of the value of building work done by the construction industry. Whereas the Building Consents Issued series measures the numbers, values and floor areas of consented building jobs, the work put in place series measures the actual value of the work done on the consented jobs.

Main users of the data

Financial institutions, Reserve Bank, Treasury, economic forecasters, media

Frequency

3) Quarterly

Revision Information

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DDI Agency
nz.govt.stats
DDI Id
847a92f7-c7cd-4f1c-8a41-c683d8681b26
DDI Version
88

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