Hous­ing starts post flat re­sult

Port Douglas & Mossman Gazette - - FRONT PAGE -

PRE­LIM­I­NARY ABS fig­ures re­leased yes­ter­day in­di­cate the re­cov­ery in res­i­den­tial con­struc­tion ac­tiv­ity failed to ad­vance in the Septem­ber quar­ter 2013, said the Hous­ing In­dus­try As­so­ci­a­tion, the voice of Aus­tralia’s res­i­den­tial build­ing in­dus­try.

‘‘In the ag­gre­gate, there was an in­crease in the value of con­struc­tion work done dur­ing the Septem­ber quar­ter of 2013. How­ever, the re­sult was less pos­i­tive for the res­i­den­tial build­ing sec­tor. The value of res­i­den­tial build­ing work done dur­ing the quar­ter was un­changed com­pared with the pre­vi­ous quar­ter,’’ said HIA Econ­o­mist, Ge­or­dan Mur­ray.

‘‘The flat re­sult was a bal­anc­ing act whereby a de­cline in work done in de­tached house build­ing and home ren­o­va­tions was off­set by a rel­a­tively strong in­crease in the value of work done on multi-unit dwellings,’’ added Ge­or­dan Mur­ray.

‘‘It is good to see ac­tiv­ity in the multi-unit seg­ment of the mar­ket pick­ing up, how­ever the pos­i­tive im­pact this should have on Aus­tralia’s hous­ing sup­ply is be­ing off­set by de­clin­ing lev­els of ac­tiv­ity in the de­tached home seg­ment,’’ com­mented Ge­or­dan Mur­ray.

‘‘ In or­der to see Aus- tralia’s grow­ing pop­u­la­tion housed in a way that main­tains the stan­dard of liv­ing the com­mu­nity ex­pects, we need to see broad based in­creases in the level of ac­tiv­ity across the new home build­ing sec­tor rather than just a re­al­lo­ca­tion of ac­tiv­ity be­tween the var­i­ous seg­ments of res­i­den­tial build­ing,’’ said Ge­or­dan Mur­ray.

‘‘De­mo­graphic de­mand in the fu­ture will ne­ces­si­tate a struc­tural in­crease in the rate of new home build­ing across all types of dwellings when com­pared with the vol­umes we have seen over re­cent decades,’’ con­cluded Ge­or­dan Mur­ray.

The value of work done on multi- unit con­struc­tion in­creased by 3.9 per cent in the Septem­ber quar­ter of 2013 to a level 16.8 per c e n t above the level recorded in the Septem­ber quar­ter of 2012. In con­trast, the value of work done on new de­tached homes de­clined by 1.6 per cent in the quar­ter to a level 3.6 per cent be­low the level in the Septem­ber quar­ter a year ago.

The value of work on ren­o­va­tions de­clined by 3.1 per cent dur­ing the quar­ter to a level 3.3 per cent be­low the level recorded in the cor­re­spond­ing pe­riod last year.

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