WA spared as residential construction plunges

by Adam Smith25 Jul 2013

WA has been the lone state immune from a plunge in residential construction.

Figures from PRDnationwide's Quarterly Economic and Property report show that residential construction plummeted across Australia, with only WA spared. The report indicated that the total value of residential construction work completed fell 10.1% in the March quarter.

But director of research Aaron Maskrey said WA had showed resilience, with residential construction rising in the state by 10.8%.

"This can be attributed in part to ongoing large-scale mining and energy projects in the state, which continued to attract new residents to Western Australian cities and townships at a rate almost twice the pace of the national average. All these new residents need somewhere to live and the construction industry has ably supported this growth," Maskrey said.

The ACT and NT saw the most significant declines, falling 19.3% and 17.8% respectively. Tasmania followed, slumping 15.1%, followed by Victoria (-14.5%), Queensland (-14%), South Australia (-12.4%) and NSW (-9.6%).