Although at first glance it’s easy to assume that the building sector is struggling, that is only a part of the total story.
Much of the declining figures belong to the engineering construction sector which fell by 9.5 per cent to $23.4 billion over the December quarter.
However to offset this decline, the apartment construction sector is booming. Overall residential construction rose by 2.7 per cent to $16.03 billion, which is the highest ever recorded. This is a rise of over 11 per cent from the previous year.