Construction in New Zealand is predicted to grow over the next few years, peaking at NZD43 billion (US$27 billion) in 2021, up 5% from 2018’s NZD39 billion (US$24 billion), according to the National Construction Pipeline Report 2019 from the New Zealand government.
Residential buildings are the largest contributor to national construction in New Zealand. Residential buildings contributed 58% of total construction value in 2018, with this segment expected to grow moderately through the forecast period to NZD26.8 billion (US$16.9 billion) in 2023.
Non-residential building (22% of current total value) is expected to peak in 2021 at NZD9 billion (US$5.6 billion). Infrastructure activity (20% of total current value) is forecast to moderately increase throughout the forecast period to NZD8.3 billion (US$5.2 billion) in 2024.
Construction activity is predicted to drop after 2021 due to a levelling out of residential building projects.
