CommSec’s State of the States report has revealed construction work in the September 2020 quarter exceeded the decade average in four states.
Construction work in Australia has flourished of the back of big spending from state and federal governments in 2020.
CommSec has calculated the real value of residential, commercial and engineering work completed in the September quarter, finding Victoria, Tasmania, New South Wales and South Australia exceeded the decade average of construction work done.
However, this was down from five states in the previous quarter.
“In four of the states and territories, construction work in the September quarter was higher than the decade average, down from five economies in the previous quarter,” CommSec stated.
Victoria retained its top position for construction work done at 18.8 per cent, while Tasmania (11.2 per cent), New South Wales (9.6 per cent) and South Australia (7.2 per cent) all scored above the decade average.
The Northern Territory had the lowest score – at 65 per cent below the decade average – while Western Australia was down 43.8 per cent on the decade average. However, construction work was higher for both compared with a year prior.
Tasmania had the best performing economy in Australia for the fourth year in a row, leading in retail spending, equipment investment and population growth and dwelling commencements.
Tasmania recorded 23.5 per cent above the decade average for dwelling starts, with home building strengthened through population growth and low house prices.