Michael Ferguson,Minister for State Development, Construction and Housing
Today’s Building Activity release by the Australian Bureau of Statistics confirms that the Tasmanian Liberal government’s strong economic plan is working.
Tasmania’s building activity grew 3.9 per cent in the June quarter in real seasonally adjusted terms, showing that the momentum in the building and construction industry is being maintained.
The number of dwelling units commenced in the June quarter was 1,305, which was 69.3 per cent more than the June quarter last year. In the 2020-21 financial year there were 4,067 new dwellings commenced, 33.5 per cent more than the year before, the second highest annual growth rate of the states.
The number of dwelling units completed in the last financial year was 3,105, which was 11.1 per cent higher than the year before, and one of the highest annual totals in the last 10 years.
Despite building activity being at record levels, we don’t expect it to stop any time soon. At the end of June, over a billion dollars’ worth of work is still sitting in the pipeline, a record high for the series.
This pipeline of work creates the certainty and confidence needed for the building sector to keep investing in its future and create more job opportunities for young Tasmanians.