New housing marches up down under

Home building marched up Down Under in the third quarter of 2013, according to new data from the ABS.

“There was a 2.0 per cent decline in the September 2013 quarter, but over the twelve months to September there were 163,250 homes commenced,” explains Dr Harley Dale, Chief Economist of the Housing Industry Association. “Looking past the spike in activity due to the GFC-related stimulus, that is the strongest level recorded since 2004."

“The overall recovery in new dwelling commencements since the trough in March 2012 is still being driven by New South Wales and Western Australia, although Queensland is showing clear signs of improvement,” he added.