New home building was down in the first months of 2022, but industry bodies suggest it was due more to the season and Covid than lack of work.
According to ABS data released this week, the value of new residential building work completed was down by 0.9% in the March quarter. Yet at the end of 2021, there were 75.7% more detached homes under construction than pre-pandemic, and with the volume of detached homes approved but not yet commenced also at a record high there is still an enormous pipeline of work to complete across all regions.
