Harley Dale. Image: www.abc.net.au

Harley Dale. Image: www.abc.net.au

The Australian Industry Group/ Housing industry Association Performance of construction Index has released buoyant industry figures. For the third consecutive month (to September) the industry has expanded, this time by 4.1 points to 591 points.

And the good news is expected to continue with house prices soaring. Demand from overseas investors is strengthening the sector.

Harley Dale, Housing Industry Association chief economist, said, “The commercial construction sector finally appears to be following the lead f new residential construction, which is another pleasing out come.”

Economists are urging federal government to support the supply of housing to stabilise the soaring price of new (and existing) homes. Doing so would mean more good news for the construction industry.

Dr Dale added, “It will be important for the broader economy that evidence of strong performance in residential and improving performance in commercial construction presents itself throughout 2014 and into the next year.

“The current elevated focus and uncertainty around the potential implementation of restrictive lending practices, and sweeping generalizations on this subject, are not helpful.”

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