NSW building construction heading upwards

28 August 2014

The Australian Bureau of Statistics quarterly building expenditure has NSW performing well, says the Urban Taskforce.

 

“NSW has improved dramatically from a low in march 2012 to the latest figures for the June 2014 quarter, “ says Urban Taskforce CEO, Chris Johnson. “In March 2012, the NSW per capita building expenditure was $604 and this has risen to $792 in the latest results. This is a much larger increase than that of Victoria, Queensland and Western Australia who have all gone backwards over the same timeframe.”

 

“While NSW gets the most improved status over the last two years it is still behind the other three states in terms of per capita building expenditure. Queensland spent $865 per person compared to the NSW figure of $792 while Victoria spent $1080 per person and Western Australia $1243.”

 

“The strong pipeline of approvals in NSW should lead to increased building expenditure particularly in the residential sector. NSW residential expenditure per person for the June 2014 quarter was $474 which was below Queensland’s $492, Victoria’s $695 and Western Australia’s $763.”

 

“The momentum in NSW needs to continue for quite some time to lift building construction to the level of Victoria. The signs are good for the industry in NSW but reform of the planning system so that there is more support for development will be essential to lift the state to number one status.”

See graphs based on ABS data below:

 

Total Building Value per Capita

 

Total Residential Value per Capita

 

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