Non-Residential Construction Work Done Up 9.0 % In March Quarter 2019

Non-Residential Construction Work Done Up 9.0 % In March Quarter 2019

New South Wales Treasurer Dominic Perrottet

Construction Boom Adding Thousands Of Jobs

Victor P Taffa

Treasurer Dominic Perrottet today said new data from the ABS showed construction across New South Wales continued to boom, helping to drive economic growth and create jobs.

Value of non-residential construction work done has risen by 24.4 % through the past year the strongest growth in 5 years according to ABS figures released yesterday.

“New South Wales Government is investing around $90 Billion in new infrastructure on projects to benefit people right across the state.” Treasurer Perrottet said.

Non-residential construction has also been boosted by growth in office building approvals.

“Office vacancy rates are low in Sydney and strong employment growth in professional and financial services will provide more demand.” Treasurer Perrottet said.

“This is good news in a property market which has had some significant headwinds on the residential front.”

Non-residential work done rose 9.0 % in the March quarter 2019, whilst engineering work done also rose 2.7 % in the quarter.

Total construction work done in New South Wales for the March quarter 2019 shows an overall increase of 1.7 % through the year.

Value of non-residential construction work done in New South Wales was the highest in the country, at around $4 Billion for the March quarter 2019.

Treasurer Perrottet said New South Wales continued to be the jobs powerhouse of the nation with an unemployment rate of 4.5 %, the lowest of any state.

“Liberals & Nationals are about creating work and opportunity for people right across New South Wales.” Treasurer Perrottet said.

“People have resoundingly rejected Labor’s plans to increase taxes, destroy jobs and have policy dictated to them by a cadre of inner-city elites.”

Abbreviations:

ABS                Australian Bureau of Statistics