The volatility of new housing starts continued in the final months of 2024, according to data released this week by the Australian Bureau of Statistics.
The new figures show that the total number of homes commenced fell 4.4% to 41,911 dwellings in the December quarter, seasonally adjusted. Despite the drop, this result is 5.3% higher over the year.
Work started on new standalone houses fell 6.1% to 26,136 following a rise of 6.0% in the September quarter. Multi-unit starts fell 5.6% to 14,196 following a rise of 6.3%.
In total, there were 213,834 homes under construction in the December quarter, of which 85,169 were new houses.
Work done on new residential building rose 0.6% to $20.3b, 5.7% higher for the year. Work done on alterations and additions rose 1.5% to $3.4b.
We hope you have enjoyed this article. It is our pleasure being your real estate agents in Brisbane.
If you would like any assistance or advice, please feel very welcome to get in touch with our Brisbane real estate agents, Brisbane property management team, or Brisbane buyers agents.
