The construction of 38,375 Australian properties commenced in the December quarter of 2010, figures published today (March 16th) by the Australian Bureau of Statistics have revealed.
This figure is a trend estimate and is 4.6 per cent lower than the number built in the September quarter of last year.
In trend terms, 2.8 per cent fewer dwelling unit commencements took place in December 2010 compared to in the same month of the previous year.
"The seasonally-adjusted estimate for the total number of dwelling units commenced fell 5.3 per cent in the December quarter which follows a fall of 13 per cent in the September quarter," the Australian Bureau of Statistics report containing the figures states.
In trend terms, some 23,545 of the dwelling units commenced in the final quarter of 2010 were new private sector houses, while 12,393 were other private residential buildings, such as flats and apartments.
Earlier this month, Andrew Harvey, senior economist at the Housing Industry Association, said that the country's home building market is in need of an "extended period of interest rate stability".
Posted by Steve Douglas
