The total value of building work done in Australia fell a seasonally adjusted 1.6% in the fourth quarter from the previous quarter, the Australian Bureau of Statistics said Friday. Building activity was valued at A$17.9 billion in the fourth quarter. In the third quarter, building activity was up 0.7% on a quarterly basis.
During the fourth quarter, the value of new residential building activity declined 1.8% sequentially to A$8.7 billion. At the same time, additions and alterations made to residential buildings fell 3.9% to A$1.5 billion. The value of non-residential building activity was down 0.9% to A$7.6 billion.
Year-on-year, the total value of building work done grew 3.2% in the fourth quarter, reflecting a 2.9% growth in new residential building activity and a 4.9% rise in non-residential building activity. However, alterations and additions made to residential buildings were down 3%.
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