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Jump in new home starts

Building starts are a very good barometer on the underlying health of a property market, and all major capital cities recorded a strong growth in starts except for Brisbane which had a minor decline. New South Wales led the rise which is great news for a market looking to move into a growth phase after a few years of flat price growth. This further signals continuing growth accross the Australian property market in the coming years.

New home commencements jumped significantly in the March 2006 quarter, increasing everywhere except in Queensland and the Northern Territory, according to the Australian Bureau of Statistics.

Starts rose by 42 per cent in the ACT, followed closely by New South Wales (41 per cent), then by 29 per cent in South Australia, 8.0 per cent in Tasmania, 7.0 per cent in Western Australia, and just 1.0 per cent in Victoria.

Starts fell by 8.0 per cent in Queensland and were down by 47 per cent in original terms in the Northern Territory (24 per cent lower than a year earlier).

- bulding, house, starts, market

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