Construction activity in New Zealand to peak in 2021
By Andy Brown04 September 2019
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.