Building activity takes a dive in September

Peter Terlato 18 January 2017

construction site workers break lazy stop

Big fall in the value of non-residential building works.

The value of completed building works in Australia fell slightly through the September 2016 quarter, according to new Australian Bureau of Statistics (ABS) data.

The ABS figures show the total value of work done fell 0.7% to $26,534.8 million during the September 2016 quarter.

The value of new residential building works rose modestly (0.4%) during the quarter, supported by a substantial increase (1.2%) in the value of new other residential buildings (eg apartments, townhouses, home units, semi-detached houses and duplexes).

However, this wasn't enough to balance the sizeable (-3.1%) fall in value of non-residential building works.

Figures show the total number of dwelling units commenced fell 2.5% in the September quarter.

New private sector house commencements rose 2.3% over the quarter, while new private sector other residential building commencements fell 7%.

Figures released by the ABS late last year showed that total dwelling approvals fell by 8.7% during September.

It's not all bad news. The latest ABS housing finance figures reveal home loan values are on the rise again after months of significant declines in both values and commitments.

Buying or investing in property? Our home loan comparison guide can help you secure the best finance.

Latest home loans headlines

Picture: Shutterstock

More help from finder.com.au

Ask an Expert

You are about to post a question on finder.com.au:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, read the PDS or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms and Conditions and Privacy Policy.
Ask a question
feedback