Dwelling Units Completed In December Quarter 2018 Up 31 % On Previous Year

Dwelling Units Completed In December Quarter 2018 Up 31 % On Previous Year

Tasmania Minister for Building and Construction Sarah Courtney

Strong Growth In Tasmanian Building Activity Continues

Victor P Taffa

Building Activity data released today by the ABS confirms that the strong growth in the number of dwellings being built in Tasmania is continuing.

Data shows that Tasmania experienced the highest growth rate in the nation for building work done at 27 % in trend terms compared to the same period a year earlier. This was significantly higher than the average annual growth across the nation at just 1.3 %, Minister for Building and Construction Sarah Courtney said.

In the December 2018 quarter the number of new dwelling units completed increased by 31 % compared to the same period one year earlier, which was also the highest growth rate in the nation.

These figures show that almost $1.6 Billion in value of building work done was completed during 2018, showing the confidence in Tasmania’s building and construction sector. This was led by the residential sector which had almost $900 Million of value done in the year.

 

This significant growth in the number of dwelling unit commencements and completions is a demonstration of the growing confidence of Tasmanians to build more homes, which is supported by the strong economic management of the Hodgman Government.

In further good news, the pipeline of work is still strong, with over $800 Million of works yet to be done as at the December 2018 quarter which will further increase Tasmania’s housing supply.

“We have committed $125 Million for new homes as part of our Affordable Housing Action Plan 2019-2023 and we’ve extended the $20,000 First Home Owner Grant to eligible first home owners for the purchase or building of a new home.” Minister Courtney said.

Abbreviations:

ABS                Australian Bureau of Statistics