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News » International » Australian stats show jump in Victoria’s construction » published 25 Aug 2016

Australian stats show jump in Victoria’s construction

Construction activity in the Australian state of Victoria has bucked the national trend by increasing 9.8% in the year to June 2016.

The state says it is “officially Australia’s construction engine room” with the 9.8% spike of AU$939m (£541m) in activity for the year. In contrast, activity throughout the nation fell by 10.6 per cent during the same period.

Western Australia dropped 39.5%, followed by Queensland down 6% and Tasmania, which fell 4.2% in the same period.

The latest construction figures released by the Australia Bureau of Statistics show Victoria’s construction growth gained significant momentum in the June quarter with a rise of 5.2%, following a March increase of 1.4%. Nationally, there was a 3.7% drop for the quarter. The data confirms four consecutive quarterly increases in construction activity in Victoria.

The figures were driven by engineering construction and detached residential housing, fuelled by the state’s population growth and the state government’s strong infrastructure pipeline.

Treasurer Tim Pallas said: “These figures reaffirm the demand across the state for commercial, public, and residential infrastructure to cater for Victoria’s increasing popularity as Australia’s destination state and the place to do business.”

 

MPU

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This article was published on 25 Aug 2016 (last updated on 25 Aug 2016).

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