New residential building lifted even further in the March quarter 2013, according to data released this week by the Australian Bureau of Statistics.
The figures show that the total number of dwelling units commenced in the March quarter 2013 was 13.0 per cent higher than 12 months previously. New private sector ‘other residential’ building rose by a whopping 20.8 per cent, while houses lifted 5.1 per cent.
In trend terms, the total number of dwelling units commenced rose 0.5 per cent in the March 2013 quarter following a rise of 2.9 per cent in the December 2012 quarter.
New private sector house commencements rose 0.4 per cent in the March quarter following a rise of 1.6 per cent in the December quarter, while work started on new private sector ‘other residential’ building fell 0.8 per cent following a rise of 3.0 per cent.
The seasonally adjusted estimate for new private sector other residential building fell 9.5 per cent to 14,778 dwellings in the March quarter following a rise of 7.0 per cent in the December quarter.
The trend estimate of the value of new residential building work done in the March quarter 2013 rose 1.8 per cent.
The value of work done on new houses rose 1.3 per cent while new ‘other residential’ building rose 2.6 per cent.
The seasonally adjusted estimate of the total value of new residential building work done in the March quarter fell 0.6 per cent to $10,275.0m.