"The Prospects Have Brightened For New Residential Construction Activity* November 2013"
WA and SYDNEY/NSW Booming + 29%
"We have been highlighting WA’s out-performance in a range of forums for a considerable time. Dwelling commencements reached a level last financial year of 24,052. Excluding the GFC stimulus year of 2009/10, that is the highest level of commencements since 2006/07.
The other key success story of 2012/13 was NSW. Dwelling commencements grew by 29 per cent last financial year to reach a level of 39,715.
That is the highest mark reached since 2003/04! Now, admittedly back in 2003/04 we were at ‘boom’ levels and there were 45,844 starts, but there has certainly been a strong ‘first round’ recovery in the right direction back toward levels in the mid 40,000’s, which is the minimum we need to reach." ...
"Building approvals figures for the September 2013 quarter signal further upward momentum in dwelling commencements for both WA and NSW. In that quarter building approvals in WA increased by 7.7 per cent (driven by both detached house and ‘other’ dwellings, especially the former). For NSW the increase was 25.2 per cent (driven by both detached house and ‘other’ dwellings, especially the latter)."
