RESIDENTIAL CONSTRUCTION SURGES TO FRESH RECORD (FED)

The latest ABS housing figures show new dwelling commencements reached a fresh high in the September 2015 quarter said the Housing Industry Association (HIA), the voice of Australia’s residential building industry. “Today’s update for national new home building is a stellar result not only for the residential construction industry, but for the wider economy,” said HIA Chief Economist, Dr Harley Dale. “New dwelling commencements hit a quarterly record level of 55,532 in the September quarter last year. The historical high of 215,329 commencements for the year to September 2015 is 15 per cent above the previous peak of just over 187,000 ‘starts’ in 1994.”