RESIDENTIAL CONSTRUCTION FIGURES CONTINUE TO SOAR

Tasmania’s building and construction sector is going from strength to strength, and the latest ABS figures confirm Tasmania has recorded the highest growth rate in the nation with respect to new residential construction.

The Construction Work Done preliminary figures for the September 2018 quarter, showed a 31.7 per cent increase in the value of new residential work done, compared to the previous year.

Not only is this the highest growth rate in the country, but it is almost four times higher than the national growth rate of 8.6 per cent.

These results prove that the Hodgman Majority Liberal Government’s Plan to encourage growth in Tasmania’s
building and construction sector is working.

Under the Government’s nation-leading policies, investment and jobs in the sector are up and red tape is being cut making it easier, faster and cheaper to build.

Tasmania is also performing well in other areas of construction, with the value of total construction work done increasing by 4.4 per cent compared to the previous quarter, with the total value of work done in Tasmania nearly $2.9 billion in the year to September 2018, which is an increase of 11.3 per cent.

Engineering construction activity also grew over the September 2018 quarter, up by 13.6 per cent in real terms compared to the previous year, in contrast to 5.8 per cent increase in the growth experienced nationally.

These figures are further confirmation that the Hodgman Majority Liberal Government’s long-term Plan is
building Tasmania’s future.