The latest data from the Australian Bureau of Statistics on construction work done over the September quarter indicates that the four big states are line ball on a per capita basis for non-residential development says the Urban Taskforce.
“This is the first time in 16 years that the per capita expenditure on non -residential construction for NSW, Victoria, Queensland and Western Australia has been the same,” says Urban Taskforce CEO, Chris Johnson. “The chart below illustrates the remarkable confluence of the four states performance for the September 2016 quarter.”
“For residential construction, Victoria led the nation on a per capita basis with $826 a person while NSW, Queensland and Western Australia spent around $700 each per capita on construction.”
“The construction expenditure figures demonstrate a slowing down generally across Australia and it will be important to monitor this over coming months.”
“In NSW the property industry has been doing well but the release of the 6 District Plans for Sydney indicates that the Greater Sydney Commission is looking at applying a 10% tax on housing to provide affordable homes and is proposing a further levy as part of the introduction of a Value Capture approach. These extra costs could lead to a slow-down in construction activity if the feasibility of new projects is damaged by the proposed levies.”