Value of building work in Australia increases

The value of building work carried out in Australia increased by 5.7 per cent from the first quarter of the year to the second, latest figures have shown, which could interest those looking to invest in new Australian property.

A report from the Australian Bureau of Statistics revealed that $21.6 million (£13.4 million) worth of building work was undertaken in the three-month period.

This is an 18.7 per cent increase on the value of work that was seen in the same period of last year.

Some $10.1 million (£6.3 million) was spent on new residential buildings from the beginning of April to the end of June, which is a 9.4 per cent increase on the first quarter of the year.

The value of work done on non-residential building, however, was $9.7 million (£6 million), which is up 2.8 per cent on the previous quarter.

Earlier this month, Ian Luck, construction and engineering firm Baulderstone’s new managing director, explained to the Australian newspaper that commercial development would soon return to New South Wales.

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Steve Douglas is the co-founder and Managing Director of Australian Taxation Services (ATS), established in Singapore in 1995.

ATS provides specialist taxation services to Australian expats living overseas and people of any nationality investing in Australian property.

www.smats.net 
Email: uk@smats.net
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