Value of Building Work Put in Place

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). 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

Seasonal adjustment methodology 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.

Introduction of deflated series in the Information Release (formerly Hot off the Press (HOTP) and INFOS).
The deflation of values for residential buildings, non-residential buildings and all buildings was implemented at the March 1998 quarter release.

Constant price series As from the June 2006 quarter, the method for calculating the constant price series (ie the price deflated series) was updated

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

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

Usage and limitations of the data

Usage The 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.

Limitations Due to inflation, the consent values have risen over time. This leads to sample size increasing as non-sampled low value consents are rising into the lower strata, and the partially sampled consents are rising into the full coverage strata.

Prior to September 1996, consents listed with more than one building type were coded within the Miscellaneous and Multi-purpose building type, which caused a misallocation. From September 1996 onwards, the consent value (and thus the building work put in place) is split between the building types that are listed. This is a good result as it reduces the substance of the less informative building type of Miscellaneous and Multi purpose and increases the values for the appropriate types. Although this has caused some discontinuity in this series, it is a significant improvement on previous results.

Main users of the data

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

Frequency

3) Quarterly

Revision Information

Currently viewing revision 52 by on 5/09/2016 8:27:28 p.m.

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Identifiers

DDI Agency
nz.govt.stats
DDI Id
847a92f7-c7cd-4f1c-8a41-c683d8681b26
DDI Version
52

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