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Home building reaches record high

The number of homes being built around Australia broke records in 2022, according to data released this week by the Australian Bureau of Statistics.

The figures show that the total number of dwellings under construction reached a new record of 244,479 in September, a further 0.6% increase on the record number in June.

New standalone houses have increased to record highs since March 2021, with 103,124 under construction in September 2022.

Building starts were down, however, with the total number of homes commenced falling 5.2% to 45,489 dwellings in the September quarter, in seasonally adjusted terms.

The fall was driven by multi-unit building work, which fell 5.2% to 15,618 homes following a fall of 4.5% in the June quarter. Standalone house starts fell 4.9% to 28,895 after a fall of 1.0% in the June quarter.

The value of building work done rose 1.5% to $30.6b in the September quarter.

About Adam Nobel

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


0417 007 001

Adam is the founder and Principal of Hugo Alexander Property Group. With a previous career in advertising, 22 years experience in property investment, and 16 years in Brisbane real estate, he knows the market inside out to ensure his clients grow their wealth faster.

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