The latest Housing Industry Association/Ai Group Performance of Construction Index indicates that apartment buildng grew at its fastest rate in 10 years last month and this has boosted construction overall.
The increase was despite the contraction in construction of standalone homes, for the first time in 5 months.
According to the index apartment building activity rose 9.2 points to 72.4 in October. This was the highest reading in the 10 year history of the survey.
Also the headline index rose 0.2 points to 52.1, the third straight month above the crucial 50 mark.