Residential Building Commencements
THE latest residential building commencements data provide further confirmation that the national housing market is slowing, but that the downturn is so far less pronounced in WA. Preliminary estimates suggest that the seasonally adjusted number of residential building commencements in WA increased by 204 (3.5 per cent) to 5,956 between the December and March quarters. Commencements rose by 2.4 per cent in the four quarters to March 2004
Australia-wide, residential building commencements decreased by 1,225 (2.7 per cent) to 43,637, seasonally adjusted, between the December and March quarters, and rose by 4.9 per cent through the year to March 2004.
Source: ABS Cat. 8750.0