26 August 2009
Victoria leads Australia in building activity and has pulled well ahead of NSW, according to new figures released by the Australian Bureau of Statistics today.
For every $1 invested in building activity in NSW, $1.34 is invested in Victoria and 99 cents is invested in Queensland, Mr Gadiel said.
In the June quarter, the value of Victorias building activity was $5.32 billion, NSW was $3.98 billion and Queensland was $3.93 billion.
NSW accounts for 33 per cent of Australias population, but only 22 per cent of the building activity.
Everyone needs be concerned about the lack of building activity in NSW, Mr Gadiel said.
For every $1 million in construction expenditure, 27 jobs are created throughout the broader economy.
NSW shouldnt be lagging behind Victoria to this degree. In fact, NSW should be leading the pack.
For the sake of our states well being, any NSW politician who has been campaigning against development needs to stop and re-think their position.
Bureaucrats who are used to saying ˜no to development proposals should take some lessons from their Victorian colleagues.
NSW saw a seasonally adjusted decline in the value of building activity of 8.6 per cent in the June quarter, following a 7.3 per cent fall in the March quarter. Victoria saw a 1.2 per cent increase in building activity in the June quarter, while Queensland suffered a 12.8 per cent decline, although it had a 1.5 per cent increase in the March quarter.
NSW is 16.8 per cent lower than the same quarter last year and Queensland is 18.6 per cent lower. However Victorian building activity has increased by 4.3 per cent compared to the same quarter last year. The real value of new residential building activity in NSW fell by a seasonally adjusted 2.1 per cent in the June quarter, with non-residential activity hit much harder by a 12.3 per cent fall.
For Victoria, new residential building activity increased by 6.6 per cent and non-residential activity declined by only 2.2 per cent. Queensland was hit by a 13.5 per cent decline in new residential building activity and a 12.6 per cent decline in non-residential activity.
Across Australia the seasonally adjusted estimate of building work carried out fell 5.7 per cent in the June quarter. Residential building work fell 2.6 per cent and non-residential building fell 9.5 per cent.
The Urban Taskforce is a property development industry group, representing Australias most prominent property developers and equity financiers.
The construction activity made possible by property developers contributes $69 billion to the national economy each year and creates 709,000 direct jobs. The construction industry is Australias third largest source of employment.
