THE value of building work completed fell 4.3% in the December quarter dragged down by the residential and non-residential sectors.
According to the Australian Bureau of Statistics, in the three months to December 2007, the value of building work done fell to $16.15 billion.
The value of work done is 1.8% lower when compared to December 2006.
New residential work fell 3.0% to $803 billion, driven by falls 10.1% fall in new other residential building to $2.29 billion, which offset the 0.1% increase to work done on new houses to $5.74 billion.
Alterations and additions rose 0.6%, to $1,565.6m.
Finally, the value of non-residential building fell 7.0% to $6.55 billion.
Australian Property Journal
