The Urban Developer
AdvertiseEventsWebinarsUrbanity
Industry Excellence
Urban Leader
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
Urban Leader Awards Logos RGB White
NOMINATIONS CLOSE SEPTEMBER 12 RECOGNISING THE INDIVIDUALS BEHIND THE PROJECTS
NOMINATIONS CLOSING SEPTEMBER 12 URBAN LEADER AWARDS
LEARN MOREDETAILS
TheUrbanDeveloper
Follow
About
About Us
Membership
Awards
Events
Webinars
Listings
Resources
Terms & Conditions
Commenting Policy
Privacy Policy
Republishing Guidelines
Editorial Charter
Complaints Handling Policy
Contact
General Enquiries
Advertise
Contribution Enquiry
Project Submission
Membership Enquiry
Newsletter
Stay up to date and with the latest news, projects, deals and features.
Subscribe
ADVERTISEMENT
SHARE
14
print
Print
ResidentialSun 27 May 18

Construction Slowing in NSW, Growing in Victoria

c54bd9ff-6c94-43f4-a4ad-2fa545d6454d

Australia’s construction sector is steadying, with the value of construction work in the March quarter rising by just 0.2 per cent, missing forecasts of a 1.3 per cent gain.

The latest data from the Australia Bureau of Statistics revealed a fractional increase in construction activity which granted the sector a five per cent rise in value.

The value of construction over the March quarter rose to $51.2 billion, undershooting forecasts for a larger increase.

The value if residential construction took a dive over the year, dropping 1.3 per cent while engineering and non-residential construction picked up the slack with 10.3 and 5.4 per cent increases respectively.

Much of this increase has been attributed to large transport infrastructure projects under way across Australia’s capital cities like Sydney and Melbourne, funded by state and federal governments.

Related reading: Federal Budget 2018: Infrastructure, Investment and Build to Rent

Developer group Urban Taskforce says that the quarterly construction figures from the ABS indicate a slowdown in NSW as Victoria expands.

“The latest construction figures indicate a slowing rate of work in NSW particularly for non-residential work.” Urban Taskforce chief executive Chris Johnson said.

“When the figures are looked at on a per capita basis Victoria does seem to be building more than NSW. For total building in the March quarter NSW construction was $1,145 per capita while Victoria spent $1,343 per person.”

Despite the 1.3 per cent drop over the year, the value of residential construction still inched 0.4 per cent to $18.05 billion during the most recent quarter, signifying a slight comeback but still reflecting previous declines in Australian building approvals.

Building approvals related more to tourism, entertainment and recreation facilities, Commonwealth Bank senior economist Belinda Allen said.

The small difference in numbers reflected separate research conducted by building groups who noticed a slowing down in activity during April.

ResidentialInfrastructureBuild-to-RentAustraliaConstructionConstructionSector
ADVERTISEMENT
TOP STORIES
Stockland bumps up its apartment pipeline in melbourne and sydney
Exclusive

Stockland Re-Enters Density in $5bn Apartment Play

Renee McKeown
4 Min
Woolloongabba Precinct Vulture St
Exclusive

Brisbane Developer in Cross River Rail Compensation Tussle

Clare Burnett
4 Min
The Mondrian Gold Coast hotel's food and beverage is driving profits
Exclusive

Touch, Taste, Theatre: What’s Driving Mondrian’s Success

Renee McKeown
6 Min
Fortis’ display suites are designed as brand environments first, with tactile details and curated design to build buyer confidence before project specifics.
Exclusive

Relevant or Redundant: Will Tech Kill Display Suites?

Vanessa Croll
7 Min
Exclusive

Missing Heart: Why The Gold Coast Needs a CBD

Phil Bartsch
7 Min
View All >
South Melbourne social housing precinct
Affordable & Social Housing

South Melbourne Housing Precinct Revamp Takes Next Step

Leon Della Bosca
JQZ Parramatta EDM
Residential

JQZ Plots 10-Storey Addition to Parramatta ‘Auto Alley’ Plans

Clare Burnett
Aerial view of Caboolture and Bruce highway to Brisbane with Bribie Island Road crossing, Queensland, Australia
Policy

Queensland’s $2bn Push Opens New Housing Front

Vanessa Croll
First projects named in a statewide plan to fast-track supply, including thousands of homes in a major growth region…
LATEST
South Melbourne social housing precinct
Affordable & Social Housing

South Melbourne Housing Precinct Revamp Takes Next Step

Leon Della Bosca
2 Min
JQZ Parramatta EDM
Residential

JQZ Plots 10-Storey Addition to Parramatta ‘Auto Alley’ Plans

Clare Burnett
3 Min
Aerial view of Caboolture and Bruce highway to Brisbane with Bribie Island Road crossing, Queensland, Australia
Policy

Queensland’s $2bn Push Opens New Housing Front

Vanessa Croll
2 Min
Stockland bumps up its apartment pipeline in melbourne and sydney
Exclusive

Stockland Re-Enters Density in $5bn Apartment Play

Renee McKeown
4 Min
View All >
ADVERTISEMENT
Article originally posted at: https://www.theurbandeveloper.com/articles/construction-slowing-in-nsw-growing-in-victoria-