VALUE OF WORK COMMENCED VOLUME TERMS
TREND AND SEASONALLY ADJUSTED ESTIMATES
 | Mar qtr 12 | Dec qtr 11 to Mar qtr 12 | Mar qtr 11 to Mar qtr 12 |
| $m | % change | % change |
Trend(a) |
|
| Value of work commenced | 16 896.7 | -5.7 | -10.4 |
| New residential building | 8 260.8 | -7.7 | -17.2 |
| Alterations and additions to residential building | 1 659.7 | -2.9 | -7.0 |
| Non-residential building | 6 979.3 | -4.0 | -1.5 |
Seasonally Adjusted(a) |
|
| Value of work commenced | 16 374.5 | -9.3 | -14.1 |
| New residential building | 7 745.6 | -17.8 | -25.7 |
| Alterations and additions to residential building | 1 657.3 | -1.1 | -5.4 |
| Non-residential building | 6 971.6 | 0.2 | 1.2 |
|
| (a) Reference year for chain volume measures is 2009-10. Refer to paragraphs 31-35 of the Explanatory Notes. |
TREND
- The trend estimate of the total value of building work commenced fell 5.7% in the March quarter 2012, and is now showing falls for three quarters.
- The value of new residential building commenced fell 7.7% and has fallen for seven quarters. The value of new house commencements fell 4.5% and new other residential commencements fell 12.5%. The value of commencements for alterations and additions to residential buildings fell 2.9%.
- The value of non-residential building commenced fell 4.0%.
Value of Work Commenced in Volume Terms, Trend
SEASONALLY ADJUSTED
- In seasonally adjusted terms, the estimate of the total value of building work commenced in the March quarter fell 9.3% to $16,374.5m following a fall of 5.8% in December 2011.
- Commencements of new residential buildings fell 17.8% to $7,745.6m. New house commencements fell 10.0%, to $5,504.1m, and new other residential building fell 32.3% to $2,241.5m. Alterations and additions fell 1.1% to $1,657.3m. Non-residential work commenced fell 0.2%, to $6,971.6m.
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