STATS SHOW HOUSE CONSTRUCTION PLUMMETS
Written on the 21 March 2011
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 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.