Residential building work has dropped for the third consecutive quarter in a row, according to new data.

The Wellington region led the annual decline, with a 13 percent PA fall in residential construction put in place.

Infometrics principal economist Brad Olsen says this downturn reflects high interest rates and declining house prices trickling down to the construction sector.

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Residential building work has dropped for the third consecutive quarter in a row, according to new data.
The Wellington region led the annual decline, with a 13 percent PA fall in residential construction put in place.
Infometrics principal economist Brad Olsen says this downturn reflects high interest rates and declining house prices trickling down to the construction sector.
LISTEN ABOVE

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