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Building reaches 20-year high

New home building hit a 20-year high in the final months of 2020, according to new data released this week by the Australian Bureau of Statistics.

The seasonally adjusted figures show that the total number of homes commenced rose 18.6% to 51,055 in the December quarter.

The rise was driven by private sector houses, which rose 26.6% to a 20-year high of 33,761.
Starts on multi-unit dwellings rose 4.1% to 16,049, following a fall of 4.7% in the September quarter.

The value of new residential building work done rose 2.6% to $15.4b in the December quarter, in seasonally adjusted terms. Work completed on new houses rose 3.8% to $9.0b, while new ‘other residential’ building rose 0.9% to $6.4b.

About Adam Nobel

Principal
M. Bus, Grad Dip Adv, B.Int Bus, LREA

adam@hugoalexander.com.au

0417 007 001

Adam is the founder and Principal of Hugo Alexander Property Group. With a previous career in advertising, 20 years experience in property investment, and 14 years in Brisbane real estate, he knows the market inside out to ensure his clients grow their wealth faster.

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