House building continued to contract over December at an increasing rate, according to a leading industry group.
The sub-index saw home building decrease from November, by 5.7 points to 32.9 in December, found the Australian Industry Group’s Australian Performance of Construction Index.
This is a steeper level than that seen in November.
However, the rate of decline in apartment building has slowed with the sub-index seeing an increase of 9.9 points to 33.3.
This is the biggest increase for the apartment sector recorded in the past five months.
The Performance of Construction Index is a national composite index in conjunction with the Housing Industry Association that analyses orders, new business, deliveries, activity and employment.
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