Warehouse building boom carrying commercial property sector: CommSec
Staff reporterDecember 8, 2020
The growth area in commercial building remains warehouses.
Approvals to build new warehouses are up 39 per cent over the last year and near record highs.
More warehouses are being built to support the online spending sector.
Overall, commercial building is booming – just below record highs.
Over the year to March, building approvals totalled $117.09 billion, 15.8 per cent above the decade average.
The value of all commercial and residential building approvals fell by 6.5 per cent in March after rising 3.3 per cent in February.
Residential approvals fell by 5.9 per cent with new building down by 7.2 per cent, but alterations & additions were up by 3.3 per cent. And commercial building fell by 7.3 per cent.