According to a recent article published in Business News, Australia's construction industry is expanding at its fastest pace in 9 years, with residential construction leading the way.
The HIA performance of construction index rose by 4.1 points to 59.1 points in September. This is the third consecutive month this figure has risen and the fourth month it has remained above 50 points (the line that separates expansion from contraction).
HIA chief economist, Harley Dale, said he expects residential construction to strengthen further for the remainder of 2014-15 financial year and he also noted that the commercial sector appear to be following suit.
This growth is evident in Perth's construction sector, with recent major developments being released from Pindan, PACT, BGC, Finbar etc. The latest HIA-COLORBOND® steel Housing 100 Report for 2013/14 has shown great results for residential construction in WA (see our article entitled WA Builders Amongst Australia's Top 20 Home Builders ). Building approvals also remain at a healthy level, at 5.9 per cent higher than this time last year.
Source: Business News