Latest evidence shows construction continuing to climb in Queensland

The latest ABS data shows the volume of construction work done in Queensland in the June quarter rose 2.7 per cent to $9.47 billion.

Treasurer Curtis Pitt said that’s the first quarterly increase since September 2013 with the highest quarterly increases directly attributed to the amount of public investment in Queensland.

“This is the first quarterly increase (seasonally adjusted) in engineering construction in 10 quarters, following the falls from completion of LNG projects,” Mr Pitt said.

“The real value of engineering construction in Queensland rose 3.3 per cent in the June quarter although it should be noted that engineering construction was 23.5 per cent lower over the year as works associated with major LNG projects wind down.

“Non-residential work done also increased 4.3 per cent over the last quarter, comprising increases in both public and private sector work.

“Specifically, the ABS reported a 20.1 per cent quarterly increase in public investment last quarter with an 84.3 per cent annual increase in public investment contributing to the overall result.

“This is reflective of the Palaszczuk Government’s commitment to not just getting Queensland back on track after the LNP years, but building a brighter future for our entire state.

“We recognise the importance of working alongside the private sector and are investing

“My concern is that the construction of new houses remains well below pre-GFC levels, which is why we boosted the Queensland First Home Owners Grant to $20,000 to stimulate activity in the sector.

“Frankly there’s never been a better time to buy given record low interest rates, Queensland’s competitive housing costs and the assistance on offer from the Palaszczuk Government to get help first home buyers into the market.

“The construction of medium-to-high density category continuing to trend upwards, rising 5.9 per cent in the June quarter. That’s 38.6 per cent higher over the year.

“The ABS noted that recent information on building approvals and the value of housing work yet‑to‑be‑done suggests that the strength in Queensland’s dwelling sector is likely to continue in 2016-17, particularly in medium‑to‑high density housing.”

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