Tasmanian home building strengthened by nearly one third between late 2017 and late 2018.
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The Australian Bureau of Statistics estimated the number of new dwellings completed was up by 31 per cent in the December quarter of 2018 compared to the December quarter of 2017, from 548 to 718.
The trend terms figures also showed the September quarter was 36.3 per cent stronger than the corresponding quarter a year earlier and the June quarter was 30.1 per cent stronger.
In original terms, the ABS found 2664 dwellings were completed in the year to the end of December, compared to 2077 in the previous year.
Dwelling starts increased by 14.4 per cent in the year to the end of December, from 2508 to 2868, in original terms.
However, they dropped back slightly in the last two quarters of 2018 in trend terms, from 721 in the June quarter to 713 and then 714.
State Treasury analysis said the estimated value of all building work started in Tasmania in 2018 was up by 24.6 per cent to $1.54 billion.
That comprised:
- A 14.4 per cent increase in the value of residential building work to $900 million; and
- a 42.2 per cent increase in the value of non-residential building work to $643 million.
The value of building work done in Tasmania in the December quarter was estimated at $425 million in trend terms.
That was an increase of 3.8 per cent compared to the September quarter.
The national total dropped by 1.4 per cent for the quarter and only the ACT had a stronger quarterly growth rate than Tasmania.
Meanwhile, Tasmanian home loan commitments for owner occupation have stayed at high levels.
They totalled 1068 in February, in trend terms.
That was 3.9 per cent stronger than in February 2018, but 0.7 per cent down compared to January 2019.
Treasury said: " ... the estimated number of owner occupied housing finance commitments was comparatively steady between mid-2016 and mid-2018."
"The number of commitments reached a recent series peak in September 2018, but has since eased slightly."
First home buyer activity increased strongly in Tasmania in the year to February.
Their housing finance commitments increased by 20.8 per cent compared to the previous year in original terms, Treasury said, compared to a 1.3 per cent national increase.
