In an encouraging sign for the building and construction industry, there was a 12.5 per cent increase in the total building work done for the June quarter. Australian Bureau of Statistics (ABS) research shows that both residential (up 10.1%) and non-residential (up 17.3%) construction enjoyed a healthy increase. Encouragingly, there was also a strong increase in public sector investment in non-residential construction – up 39.2%.
Master Builders Deputy CEO Paul Bidwell said given the healthy building approval pipeline for the residential sector, the rest of the year looked positive. “There were 49,847 dwellings approved across the state in the 12 months to June 2016,” Mr Bidwell said. The ABS statistics revealed that the value of residential building work was up almost 17% to $12.63 billion for the 12 months to June 2016. An additional $1.8 billion in residential building work was completed across the 2015/16 financial year, compared to 2014/15. Three-quarters of the increase was due to multi-unit construction, with 18% due to new houses, and 7% alterations and additions.