RTTNews - Wednesday, the Australian Bureau of Statistics said the number of dwelling units commenced dropped 4% sequentially in the first quarter, on a seasonally adjusted basis, following a revised 11.5% fall in the fourth quarter. During the quarter, 30,949 units were commenced.
The number of private sector houses commenced declined 4.1% to 21,428, while the number for new private sector other residential buildings slipped 6.6% to 8,321.
Year-on-year, the housing starts were down 22.5% in the first quarter, reflecting a 16.3% fall in new private sector houses commenced and a 34.9% drop in that of new private sector other-residential buildings.
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