Fed: Figures show GST building boom may be over

AAP General News (Australia)
02-24-2000
Fed: Figures show GST building boom may be over

The pre-GST building boom appears to be over, with building work completed in the December
quarter falling 3.4 per cent, seasonally adjusted.

New figures show the downturn was across the board, but especially in completed non-residential
work which was down 5.7 per cent to $3.276 billion.

There was also a fall in residential building work as builders were unable to keep
pace with the bid to beat expected GST-housing price rises.

The Australian Bureau of Statistics says residential building approvals continued to
rise during the December …