Table 20.14 shows that total approvals for new residential building were valued at $18,191m in 2000, falling from $20,008m (9%) in 1999. This pattern was reversed for the value of work done, which increased by 15% in 2000. This reflects the impact of the lead time between approvals and activity in the period prior to the introduction of the GST.
The value of new houses, in terms of both approvals and activity, dominates the residential sector.
20.14 VALUE OF RESIDENTIAL BUILDING - 1999 and 2000
|
 | Approved
| Work done
|
| 1999
$m | 2000
$m | 1999
$m | 2000
$m |
|
| New residential buildings | | | | |
| -New houses | 14,679 | 12,594 | 12,935 | 14,787 |
| -New other residential buildings | 5,329 | 5,597 | 5,559 | 6,427 |
| Total new residential buildings | 20,008 | 18,191 | 18,492 | 21,220 |
| Alterations and additions to residential buildings(a) | 3,194 | 3,349 | 3,426 | 3,682 |
|
| (a) Valued at $10,000 or more. |
Note: Due to seasonal adjustment methods, totals do not necessarily equal the sum of the components.
Source: Building Approvals, Australia (8731.0); Building Activity, Australia (8752.0).
|
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