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Residential construction is about more than just building homes

By Matt Hurlston

Construction has played an important role in the Australian economy for some time now, which is why policymakers can’t afford to undo the positive work that’s already been done. The Property Council of Australia has warned against bringing in any radical changes that could affect the sector, particularly as it seems to be performing well at the moment.

Not only do people need more real estate in Bentleigh to choose from, but also the jobs that are so closely linked with the construction industry.

Residential construction in the spotlight

The Australian Bureau of Statistics (ABS) released its quarterly construction data, which showed a 3.8 per cent rise in total building work in trend terms between the March quarters of 2015 and 2016. The value of engineering construction declined 16.7 per cent over the same period and non-residential building was down 4.4 per cent, leaving residential work to pick up the slack.

Compared to a year earlier, the value of residential construction work increased 8.7 per cent. In seasonally adjusted terms, the rise registered at 5.7 per cent.

Maintaining strong job prospects

According to the Property Council, tens of jobs are created every time a home is constructed here in Australia. This isn’t something that can be ignored, especially when some sections of the economy are in need of all the support they can get.

“Residential construction is one of the few bright spots in the economy,” said Glenn Byres, chief of policy and housing at the Property Council.

“Every home built creates 40 jobs – tradies, electricians, plumbers and other jobs dependent on strong housing markets.”

Buy your next property in Bentleigh

It doesn’t matter whether you want a new piece of real estate in Bentleigh or something with a little more character, the team at Ray White Carnegie is here to help. With extensive experience of the local market, we’re on hand to help every step of the way.

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