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New homes going up

Supply of new homes has had another booster shot this month, according to the latest building activity data released by the Australian Bureau of Statistics.

The figures show that the total number of dwelling units commenced rose 2.0 per cent in the June 2014 quarter following a rise of 3.6 per cent in the March quarter, in trend terms.

New private sector house starts rose 4.4 per cent following a rise of 4.8 per cent in the previous quarter. Work commenced on ‘other residential’ building fell 1.3 per cent following a rise of 2.2 per cent.

The value of work completed on new residential building rose 3.9 per cent in the June quarter. This reflected a rise of 3.2 per cent in the value of work done on new houses and 4.9 per cent on ‘other residential’ building.