Building construction work up for 2nd quarter

The Australian Bureau of Statistics have released the Construction Work Done report for the June quarter, showing an increase in residential building work increase of 3.6%, valued at $13.379 billion.

The increase was attributed to strong construction work in Victoria, New South Wales and Tasmania, where construction work has been the strongest, posting an increase for the last 3 quarters. The Australian Capital Territory posted an increase after a two year decline in construction work. Meanwhile, declines in construction were seen in Queensland, South Australia, the Northern Territory and Western Australia.

Residential construction also increased to 3.2% this quarter, with detached house construction driving the growth of the residential sector.

Read more about this on the Property Observer website.

Author: Dorian Traill

Dorian Traill is the current Director of Grand Capital Finance Group and Fountain Property Group. He specialize in home loans for people as well as helping them build wealth through quality investment properties that ultimately lead to long term financial freedom.

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