Total building work up in 1Q, but residential falls

Fri, 02 Jun 2023

The seasonally adjusted volume of total building activity was up 0.6% in the first quarter of 2023 compared with the December 2022 quarter.However, the volume of residential building work was down 0.8% to $6.1 billion, the second consecutive quarter that it has declined.Non-residential building work picked up the slack and was up 3.6% to $3b over the same period.Invalid shortcodeVolume estimates remove the effects of price changes and typical seasonal patterns.In the 12 months to the end of March, the value of building work was up 23% to $36b.&...

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