The latest data from the ABS showing building activity to March 2017 shows a fall in residential activity, if from a high reading.
The trend estimate of the value of total building work done fell 1.0% in the March 2017 quarter whilst the seasonally adjusted estimate of the value of total building work done fell 2.4% to $26,410.4m in the March quarter, following a rise of 2.2% in the December 2016 quarter.
The trend estimate of the value of new residential building work done fell 1.5% in the March quarter. The value of work done on new houses fell 1.2% while new other residential building fell 1.9%. However, the seasonally adjusted estimate of the value of new residential building work done fell 4.4% to $15,290.7m. Work done on new houses fell 2.5% to $8,198.9m, while new other residential building fell 6.5% to $7,091.8m.
The trend estimate of the value of non-residential building work done was flat in the March quarter. The seasonally adjusted estimate of the value of non-residential building work done in the quarter rose 1.7%, following a rise of 3.1% in the December 2016 quarter.
