Housing construction rose to a three-year high in the September quarter as consumers and the sector responded to stabilising borrowing and building costs, Australian Bureau of Statistics figures on Wednesday showed.
The value of residential construction grew 1.8 per cent in the third quarter – at a faster rate than June’s 1.2 per cent gain and March’s 0.9 per cent increase – to $23.4 billion in seasonally adjusted terms. It was the biggest quarterly reading since September 2021.
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Michael Bleby covers commercial and residential property, with a focus on housing and finance, construction, design & architecture. He also dabbles in the business of sport. Michael is based in Melbourne. Connect with Michael on Twitter. Email Michael at mbleby@afr.com
