ABS provided estimates on the Australia’s building activity

Australian Bureau of Statistics has provided estimates of value of building work and number of dwellings commenced, completed, under construction and in the pipeline:

• According to the ABS, total dwelling commencements declined 5.2% to 45,489 dwellings in the September quarter.
• New private sector house commencements dropped 4.9% to 28,895 dwellings.
• Australia’s new private sector other residential commencements fell 5.2% to 15,618 dwellings.
• The value of building work done rose 1.5% to AU$30.6 billion in the September quarter, driven by new residential building work done, which rose 2.1% to AU$15.4 billion and follows a fall of 6.5% in the June quarter.
• Dwellings under construction reached a new record of 244,479 in September, an additional 0.6% increase from the record in June of 243,078 dwellings.

Source: Australian Bureau of Statistics, Building Activity, Australia September 2022

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