STATS SHOW HOUSE CONSTRUCTION PLUMMETS

Written on the 21 March 2011

STATS SHOW HOUSE CONSTRUCTION PLUMMETS

THE latest ABS statistics have highlighted a dramatic shift in the construction industry from housing to apartment/townhouse building projects during the 2010 calendar year.

Just more than 23,300 new homes commenced construction in the December 2010 quarter, down 8 per cent from the September 2010 quarter and 19 per cent from December '09. However construction of new 'other residential buildings' rose a mammoth 27.9 per cent to 12,371 over the full year period.

The figure shows a 4.2 increase in non-housing residential constructions in the last 2010 quarter alone. The statistics indicates population growth, a trend for high density living and the increased costs of 'house and land' packages have prospective owner-occupiers opting for apartments and townhouses over free-standing homes.

The release of the statistics comes just one day after the State Government's Infrastructure Charges Taskforce released its key paper recommending ways to lower construction costs. 


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