The residential and building construction work sectors have continued to fall in the month of March, while the non-residential sector continues to boom, according to the latest Australian Bureau of Statistics.
According to the ABS preliminary results, construction work completed rose by 0.2% in March, the highest level on record at $22.99 billion.
The construction sector is now 7.7% higher when compared to March last year, however, the rate of growth has slowed over recent quarters.
Meanwhile, construction work completed in the building and residential sector were weaker in March, falling 0.7% and 2.4% respectively.
According to the ABS, the building sector has been falling for the past two quarters, while the residential sector has been falling for the last three quarters.
The preliminary results deliver more bad news for the residential property sector.
Earlier this week, the ABS released the April building approval figures, which recorded a fall 3.4% to 12,105 units in April – building approvals are 7.5% lower when compared to April 2005.
In March, the fall was offset by the non-residential and engineering construction work sectors, which rose 2.2% and 1.5% respectively.
Non-residential construction work completed is 12.2% higher when compared to March last year, while engineering works were 18.1% higher.
According to the ABS, non-residential work done has risen in the last six quarters, however, the rate of growth has slowing over recent quarters.
Engineering construction work done has increased for twenty successive quarters.
The ABS figures show construction work done in New South Wales and Victoria have fallen for the last two quarters.
In Queensland, construction work done has grown for the last eleven quarters, while Western Australia has grown for the last nine quarters.
In South Australia, the sector has fallen for four quarters and in Tasmania, construction work done is now showing rises for five quarters.
The Northern Territory recorded a marginal rise in the latest quarter, after two quarters of decline, while the Australian Capital Territory shows growth for the past five quarters.
By Kathryn O’Meara
