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JUNE KEY FIGURES

	Jun qtr 04	Mar qtr 04 to Jun qtr 04	Jun qtr 03 to Jun qtr 04
	$m	% change	% change
TREND ESTIMATES(a)
Value of work done	12,983.3	2.1	9.9
New residential building	7,441.7	2.1	9.6
Alterations and additions to residential building	1,351.5	0.6	9.9
Non-residential building	4,170.2	2.1	9.9
SEASONALLY ADJUSTED ESTIMATES(a)
Value of work done	12,863.7	0.7	10.5
New residential building	7,358.9	-	10.8
Alterations and additions to residential building	1,354.9	1.7	14.2
Non-residential building	4,149.9	1.5	9.0
- nil or rounded to zero (including null cells)
(a) Chain volume measures, reference year 2002-03.

Value of work done, Volume terms

Value of work done, Volume terms - Trend estimates

JUNE KEY POINTS


VALUE OF WORK DONE, VOLUME TERMS

TREND ESTIMATES

• The trend estimate of the value of total building work done rose 2.1% in the June quarter 2004.
• New residential building work rose 2.1% in the latest quarter. New houses were up 3.1% and new other residential buildings were up 0.1%. Alterations and additions rose 0.6%, the fourteenth consecutive quarterly increase. Non-residential work done rose 2.1%.

• In seasonally adjusted terms, total building work done rose 0.7% in the June quarter to $12,863.7m, the highest level recorded for this series.
• New residential work rose marginally to $7,358.9m. New houses were up 1.5%, to $4,971.4m, a level exceeded only by the June quarter 2000, while new other residential building fell 2.9%, to $2,387.5m. Alterations and additions rose 1.7% to a new record level of $1,354.9m. Non-residential work rose 1.5%, to $4,149.9m.

• In original terms, total building work done rose 7.4% in the June quarter to $12,792.3m. New houses were up 7.4% to $4,923.7m, a level exceeded only by the June quarter 2000. New other residential building rose 3.2%, to $2,413.9m, with alterations and additions up 12.1%, to $1,375.6m. Non-residential work rose 8.4%, to $4,079.1m.

CHANGES IN THIS ISSUE

A new base year, 2002-03, has been introduced into the chain volume estimates which has resulted in revisions to growth rates in subsequent periods. In addition, the chain volume estimates have been re-referenced to 2002-03, thereby preserving additivity in the quarters after the reference year. Re-referencing affects the levels of, but not the movements in, chain volume estimates.

From the September quarter 2004 onwards, contributions to published estimates from smaller house renovations in scope of the collection will not be directly collected as part of the Building Activity Survey. They will be estimated from their approval value. This change, affecting building jobs involving alterations and additions to houses with an approval value of less that $40,000, will not have a significant effect on any of the published series.

Two new tables have been added (table 19 and table 24) and the format of two existing tables (table 18 and table 23) has been changed. All tables have been renumbered from table 18. See the List of Tables for more details.

Corresponding changes have been made to the format and table numbers in AusStats.

SIGNIFICANT REVISIONS THIS ISSUE

Compared with the estimates in original terms published in the previous issue of this publication:

• the total number of dwellings commenced during the March quarter 2004 has been revised downwards by 381 (-0.9%). This was mainly the result of downward revisions of 179 (-1.6%) in New South Wales and 115 (-5.0%) in South Australia.
• the total value of building work done during the March quarter has been revised upwards by $154.2m (+1.2%), with residential building accounting for $141.1m of the increase. The main contributor to the increase in non-residential building was New South Wales, up by $108.6m (+8.2%).

SUMMARY COMMENTARY


VALUE OF WORK COMMENCED, VOLUME TERMS

TREND AND SEASONALLY ADJUSTED ESTIMATES

	Jun qtr 04	Mar qtr 04 to Jun qtr 04	Jun qtr 03 to Jun qtr 04
	$m	% change	% change
TREND(a)
Value of work commenced	12,580.7	-	5.6
New residential building	7,572.8	2.4	10.0
Alterations and additions to residential building	1,285.8	-0.2	6.2
Non-residential building	3,776.8	-3.0	-1.0
SEASONALLY ADJUSTED(a)
Value of work commenced	12,502.6	0.2	7.3
New residential building	7,576.0	4.0	11.3
Alterations and additions to residential building	1,311.9	5.9	11.1
Non-residential building	3,614.8	-8.5	-1.2
- nil or rounded to zero (including null cells)
(a) Chain volume measures, reference year 2002-03.

TREND

• The trend estimate of the total value of building work commenced was unchanged in the June quarter 2004.
• The value of new residential building commenced rose 2.4% in the June quarter 2004. New houses were up (+0.9%) for the fifth consecutive quarter and new other residential building was up 4.7%. Alterations and additions to residential buildings fell by 0.2% following five quarters of growth. Non-residential building commencements fell 3.0%

VALUE OF WORK COMMENCED IN VOLUME TERMS, Trend

• In seasonally adjusted terms, the total value of building work commenced rose 0.2% in the June quarter 2004, to $12,502.6m.
• Commencements of new residential buildings rose 4.0%, to $7,576.0m, the highest level on record. New houses rose 1.8%, to $5,132.9m, while new other residential building rose 8.8% to $2,443.1m. Alterations and additions rose 5.9% to $1,311.9m.
• Non-residential work commenced fell 8.5%, to $3,614.8m.

• In the June quarter 2004, the seasonally adjusted estimate of total building work done rose in a majority of states with the Australian Capital Territory (+5.2%), Queensland (+3.4%) and Victoria (+1.3%) recording the largest increases. Falls were recorded in the Northern Territory (-6.8%), New South Wales (-2.1%) and Western Australia (-1.8%).
• In original terms, all states other than Western Australia (-2.9%) recorded an increase in total building work done. Victoria (+11.4%), Queensland (+12.2%), Tasmania (+11.7%), the Northern Territory (+12.8%) and the Australian Capital Territory (+16.0%) all recorded double figure percentage increases in the value of work done.

		NSW	Vic.	Qld	SA	WA	Tas.	NT	ACT	Aust.
ORIGINAL(a)
Value of work done
	New residential building ($m)	2,205.5	2,080.2	1,690.8	374.4	710.9	101.2	43.8	130.9	7,337.6
	Alterations and additions to residential building ($m)	496.5	457.6	209.5	79.7	74.3	24.8	8.6	24.6	1,375.6
	Non-residential building ($m)	1,265.3	1,311.6	774.6	261.3	297.3	53.3	45.4	70.4	4,079.1
	Total building ($m)	3,967.3	3,849.3	2,674.9	715.4	1,082.5	179.3	97.7	225.9	12,792.3
Percentage change
	New residential building (%)	5.1	6.2	8.1	6.8	-1.9	7.6	24.4	31.8	5.9
	Alterations and additions to residential building (%)	4.8	17.4	25.7	8.8	4.0	8.6	12.7	11.5	12.1
	Non-residential building (%)	-0.6	18.7	18.7	3.4	-6.5	22.2	3.5	-4.0	8.4
	Total building (%)	3.2	11.4	12.2	5.7	-2.9	11.7	12.8	16.0	7.4
SEASONALLY ADJUSTED(a)
Value of work done
	New residential building ($m)	2,220.5	2,047.7	1,718.3	378.1	725.5	101.5	42.7	120.3	7,358.9
	Alterations and additions to residential building ($m)	503.3	434.8	211.4	82.2	71.7	23.9	-	24.4	1,354.9
	Non-residential building ($m)	1,262.6	1,288.9	765.7	257.3	341.7	51.0	-	75.7	4,149.9
	Total building ($m)	3,986.4	3,771.3	2,695.4	717.6	1,138.9	176.3	92.3	220.4	12,863.7
Percentage change
	New residential building (%)	-0.5	-1.0	1.7	3.0	-2.1	2.9	-4.2	9.2	-
	Alterations and additions to residential building (%)	0.9	2.7	11.0	5.1	-3.3	-7.1	-	-4.5	1.7
	Non-residential building (%)	-5.9	4.7	5.4	-4.5	-0.8	0.8	-	2.6	1.5
	Total building (%)	-2.1	1.3	3.4	0.4	-1.8	0.8	-6.8	5.2	0.7
- nil or rounded to zero (including null cells)
(a) Chain volume measures, reference year 2002-03.

VALUE OF WORK DONE, VOLUME TERMS

TREND ESTIMATES

New South Wales, Victoria, Queensland

South Australia, Western Australia

Tasmania, Northern Territory, Australian Capital Territory