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The housing construction industry has begun to boom once again, according to Westpac’s latest economy report.
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The report said public investment had proved to be one of the key drivers behind the boom.
“For the year ahead, a strong housing construction upswing and a burst of public investment will be key growth engines,” the report said.
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Construction work data revealed that new dwelling construction increased by 2.2 per cent and renovation work was up 4 per cent over the last quarter.
The report said the housing construction sector had officially turned a corner after contracting over the last three consecutive quarters.
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