Ensure you never miss an issue of the
real estate business bulletin
New home starts hit all-time high

New home starts hit all-time high

by Staff Reporter 0 comments

Total dwelling commencements jumped 26.4 per cent over 2014 to reach record levels in the September 2014 quarter.


There were 52,380 new home starts between July and September, according to the Australian Bureau of Statistics.

Commencements for new private sector houses climbed 15.3 per cent, while commencements for other new residential buildings increased by 47.5 per cent.

There was also $22.3 billion of building activity over the quarter, which represented 5.1 per cent growth.

That included an 8.9 per cent rise in new residential building to $11.6 billion, a 1.3 per cent rise in non-residential building to $8.9 billion and a 1.1 per cent rise in residential renovations to $1.8 billion.

Housing Industry Association senior economist Shane Garrett said the quarterly record was driven by NSW, Victoria, Queensland and Western Australia, which all posted all-time highs for multi-unit dwelling commencements.

"Furthermore, another incremental increase in detached dwelling starts sees this part of the market record the strongest quarterly result since 2010," Mr Garrett said.

"This result confirms that residential building activity was tracking along at a very strong level during 2014."

However, Mr Garrett said that part of the strong September quarter result can be attributed to a 'catch-up' after a disappointing June, when the number of starts fell well short of expectations.

"Following the surge in residential buildings approved in late 2013 and early 2014, there was a substantial accumulation of multi-unit residential building projects that had obtained approval but did not commence construction in the first half of the year," he said.

"The figures released today confirm that much of the activity in the pipeline entered the construction phase in the September quarter."

New home starts hit all-time high
lawyersweekly logo
promoted content
Recommended by Spike Native Network
Listen to other installment of the Real Estate Business Podcast
reb top 100 agents 2017

The REB Top 100 Agents ranking is the foremost ranking of agents in Australia. It has set the bar for excellence in Australian real estate. To be ranked as an REB Top 100 Agent is the standard real estate professionals strive for. See the full 2018 ranking here!

featured podcast

featured podcast
An industry where the resilient succeeds

Tim Heavyside believes that a strong support team and good foundations are paramount to success in the real estate industry, and with regu...

View all podcasts

Would you consider working for Purplebricks or a similar 'DIY' model?

Yes (7.2%)
No (80.9%)
Perhaps - make me an offer (12%)

Total votes: 209
The voting for this poll has ended on: July 13, 2018
Do you have an industry update?