Australia's residential construction at 10-year low
Updated: 2012-08-29 15:49
(Xinhua)
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SYDNEY - The Housing Industry Association (HIA), Australia's largest residential building organization, on Wednesday called on the federal and state governments to help revive the housing sector, following the release of official figures showing a further deterioration in residential construction activity in the June quarter.
The Australian Bureau of Statistics (ABS) reported on Wednesday that residential building work done fell 2.4 percent in the June quarter to its lowest level since 2002.
The ABS data also showed a 1.2 percent decline in non-residential building over the quarter.
HIA chief economist Harley Dale said that a fifth consecutive decline in residential building work done provided a wake-up call to governments.
"Federal and state governments need to get out there and act on investment and reform initiatives to help revive the residential construction industry," Dale said.
"That situation is unhealthy and undesirable for Australian businesses and households, while federal and state governments are too slow in taking action."
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