House building record in Australia15 October 2015 by News Desk
A record number of new homes were built in Australia in 2014/15 but the level of new construction will fall in the next 12 months.
A total of 211,976 new houses and apartments were built in 2014/15, an increase of 16.9% on the previous year. It marks three consecutive years of growth for new home building and only the fifth time in sixty years that this has happened.
The number of new residential properties being built will fall in the coming 12 months but could still be the second highest level on record.
Latest figures from the Australian Bureau of Statistics reveal there were 53,314 new dwellings commenced during the June 2015 quarter, a fall of 3.2%. Construction of Detached houses fell by 2.9% to 28,046, while ‘other dwelling’ commencements fell by 4.9% to 24,482.
Across Australia there are regional differences. In the June 2015 quarter construction of new homes increased in South Australia by 12.0%, Tasmania (+54.0%), and the Australian Capital Territory (+76.4%).
Residential construction fell in New South Wales (-1.6%), Victoria (-0.5%), Queensland (-9.6%), Western Australia (-10.5%), and the Northern Territory (-36.1%).