CoreLogic has released its Cordell Construction Monthly report, which reveals that the value of apartment applications almost halved in March, although overall construction value of new projects captured over the month was $12.8 billion, up $0.2 billion from February. Apartments also remained the biggest construction segment:
Pipeline – Australia
The number of new projects recorded by CoreLogic over March was 1,707. This is 4.0% higher than in February, and 4.6% lower than the 5 year monthly average of projects. The construction value of new projects captured over the month was $12.8 billion, up from $12.6 billion in February. As with February, the highest construction value segment received within new development applications was in the apartment and unit space. While apartments were the highest value construction segment in new projects, at $3.6 billion, this is far lower than the $6.1 billion worth of construction in new apartment projects detected in February…
Moving into Construction – Australia
The full text of this article is available to MacroBusiness subscribers
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
