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Australia is experiencing a residential building boom

Source: AAP

Australia is experiencing a residential building boom driven by record low-interest rates and the home builder grant. But demand for construction materials is outstripping supply, leaving consumers with longer and more expensive waits to get their home improvements done.

Highlights

  • The cost of renovations has increased almost 11 per cent in the March quarter to 2.84 billion dollars.
  • Construction work rose in four states and territories in the March quarter. NSW and the ACT were up by 3.6 per cent.
  • South Australia and Western Australia had the biggest increases in more than three years with workup by more than nine per cent.

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