Positivity surrounding the recovering in the building and construction sector has continued to grow amidst the release of most recent HIA report.
The report reflected on the encouraging start to the year, recounting February’s strong result that was followed by a modest increase of 0.2% increase in March.
Overall the quarterly increase for March – May 2014 was a very decent 5.8%. According to HIA economist Diwa Hopkins, these numbers indicate signs of a broadening recovery. She added that it was “encouraging to see that during March 2014 quarter, all surveyed states recorded increases in detached house sales”.
Initial drivers behind the recovery, New South Wales and Western Australia have, maintained their healthy levels of sales activity. Ms Hopkins went on to say that the most recent figure indicates that there may be some potential for further growth in these states.
