Apartment construction continues to slide: Pete Wargent
Pete WargentDecember 17, 2020
EXPERT OBSERVER
WA resurgent
Apartment construction slowed to the lowest level in half a decade in Q2 2020.
The slowdown was largely driven by Melbourne and its lockdown, while the other major states have seen things stabilise in this sector.
Mining construction is now on the rise again in Western Australia, while major engineering projects in New South Wales also provided a timely boost.
Thanks to engineering, the preliminary figures for construction hardly declined in Q2, down by just -0.7 per cent and holding up at more than $50 billion.
The quarterly peak was $66 billion in 2017.
Brighter times ahead for Western Australia on the back of the strength in iron ore and gold.
PETE WARGENT is the co-founder of AllenWargent property buyers and a best-selling author and blogger
Pete Wargent
Pete Wargent is the co-founder of BuyersBuyers.com.au, offering affordable homebuying assistance to all Australians, and a best-selling author and blogger.