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Construction boom continues to sweep the nation

By Kevin Kelly

Finding the real estate in Eaton you've always been looking for may now be much easier than it was in the past, as the latest figures show residential construction is rising across the country.

Figures from the Australian Bureau of Statistics (ABS) reveal the value of residential building work was up 3.6 per cent between the March and June quarters of this year. On a yearly basis, the value of projects has increased 9.9 per cent.

Analysing the ABS data, Housing Industry Association (HIA) economist Diwa Hopkins explained how there are plenty of reasons for optimism in the sector at the moment.

"A closer look at these preliminary results shows that the detached house segment was the key driver of growth in residential building during the June 2014 quarter, compared with the March quarter when multi-unit building led the charge," she noted.

Ms Hopkins also revealed how during the three months to June, new house building added 1.6 percentage points to the 2.2 per cent rise in total residential construction work completed.

This was even in spite of a 1.1 per cent fall in total construction work completed over the June quarter, as revealed by the ABS.

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