How long does it take to build a new home?

Residential building completions have now been steadily rising for almost five years, according to data released this week by the Australian Bureau of Statistics.

The figures show that the trend estimate for the value of residential building work done rose 0.6% to $17,934.8m in the September quarter 2016 and has risen for 18 quarters. Completions have picked up 8.3 per cent over the year.

Over the 2006-2016 period, new houses have had an average completion time of 2.27 quarters compared with an average completion time of 2.89 quarters for new townhouses.

Average completion times for new flats, units or apartments have been relatively volatile, on the other hand, ranging from a low of 5.1 quarters to 6.8 quarters over the period.