Construction in oz set for strong 2014

Construction of homes in Australia is set for a strong 2014, according to the new ABS figures. The data shows that building approvals for the month of March 2014 were down month-on-month but grew a healthy 7.7 per cent in the first quarter of 2014 compared to the same three months in 2013.

“New home building has a large reach into the wider domestic economy and the sector is very much Australia’s economic barometer in 2014,” said HIA Chief
Economist, Dr Harley Dale. “If you’re searching for highlights to the Australian economy, new housing is the best shot you can take."