The Housing Industry Association (HIA) released figures for the September 2018 quarter that show Queensland, Western Australia and the Australian Capital Territory saw strong levels of growth. The remaining States all dropped with SA (-18.6%), Vic (-16%), Tas (-6%), NSW (55%) and the NT (-2.9%).
The report was based on ABS figures which showed a total of 54,803 dwellings commenced construction which is down by 5.7 per cent in the quarter and down by 2.2 per cent against the same period a year ago.
Total housing starts in the September 2018 quarter increased in Queensland (8.3 per cent), Western Australia (2.9 per cent) and in the Australian Capital Territory (41.5 per cent).
HIA Senior Economist, Geordan Murray, said “Strong levels of new home starts early last year underpinned one of the strongest years of residential building activity on record. Results for the second half of the year reflect the softening that have been evident in the broader housing market”.
He also said “As projects that are currently under construction reach completion there are likely to be fewer new projects coming in behind them. This applies to both the detached house market and the market for higher density dwellings.”