A detailed look at yesterday's Construction Work Done release showed that engineering construction declined only moderately in Q4, but there is still a long...

Pete Wargent

Buyers Buyers

A detailed look at yesterday's Construction Work Done release showed that engineering construction declined only moderately in Q4, but there is still a long way to go for the capex decline. While a 12.7% year-on-year boost to residential construction - driven almost exclusively by a boom in construction of units and apartments - helped to offset the decline, non-residential building (largely office blocks) declined over the past year. Melbourne continues to pump an oversupply of high rise unit blocks. I take a look in more detail here: (VIEW LINK)


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