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Increased level of home building in 1958/59



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FOR PRESS, 860

. Not to be r e l e a s e d , b e f o r e m i d n i g h t on

Monday 1 9 t h O c t o b e r , 1959

INCREASED LEVEL OF HOME BUILDING IN 1 9 5 8 / 5 9 .

( S t a t e m e n t by t h e Hon, W i l l i a m McMahon, A c t i n g M i n i s t e r

f o r N a t i o n a l D e v e l o p m e n t ) ,

The f i n a l f i g u r e s o f d w e l l i n g ( h o u se s and f l a t s )

c o n s t r u c t i o n r e l e a s e d by t h e Commonwealth S t a t i s t i c i a n f o r

t h e J u n e , 1959? q u a r t e r c o n f i r m t h a t d u r i n g 1 9 5 8 /5 9 t h e number

o f h o u se s and f l a t s c o m p le te d i n A u s t r a l i a r e a c h e d an a l l

t im e r e c o r d l e v e l .

D w e l l i n g s c o m p l e t e d d u r i n g t h e J u n e q u a r t e r a t

2 1 , 8 2 9 b r o u g h t t h e t o t a l c o m p l e t e d d u r i n g 1 958/59 to 8 4 , 1 5 8

h o u se s and f l a t s compared w i t h 7 4 ,5 8 5 c o m p l e t e d i n 1 9 57/58"

a r i s e o f 12.8%. The b e s t p r e v i o u s y e a r was 1954/55 when

8 2 , 1 1 0 u n i t s were c o m p l e t e d .

Commencements i n 1958/59 were a l s o a t a h i g h l e v e l .

F o r t h e f i r s t tim e in se ven y e a r s commencements t o p p e d t h e

8 0 , 0 0 0 mark, and were t h e se co nd h i g h e s t on r e c o r d . F o r th e

J u n e q u a r t e r 2 0 , 9 5 8 d w e l l i n g s were commenced t o b r i n g t h e

1 9 5 8 / 5 9 f i g u r e to 8 1 , 6 8 7 compared w i t h 73?347 i n 1 9 5 7 / 5 8 , an

i n c r e a s e of 11.4%.

I n New South H a l e s b o t h c o m p l e t i o n s and commencements

were a t an a l l t im e r e c o r d l e v e l i n 1 9 5 8 / 5 9 » D w e l l i n g s com­

p l e t e d d u r i n g t h e Ju n e q u a r t e r were 7 ,9 2 5 m aking a t o t a l o f

3 0 , 0 3 0 f o r 1 9 5 8 / 5 9 compared w i t h 2 6 ,4 4 5 i n 1 9 5 7 / 5 8 - a r i s e

o f 1 3 »6%. . Commencements d u r i n g t h e q u a r t e r a t 7 , 3 5 7 b r o u g h t

t h e t o t a l number o f d w e l l i n g s commenced i n 1 9 5 8 /5 9 t o 2 9 , 4 8 6

compared w i t h 2 5 ,8 4 5 i n 19 5 7 / 5 8 - a r i s e o f 14?1%.

C o m p l e t i o n s i n V i c t o r i a a l s o i n 1958/ 59 were an a l l

tim e r e c o r d w h i l e commencements were a t t h e h i g h e s t l e v e l s i n c e

1950/51 which was a r e c o r d y e a r o f commencements i n t h i s S t a t e „

C o m p le t io n s d u r i n g t h e June q u a r t e r a t 6 ,4 1 9 b r o u g h t th e t o t a l

f o r 1958/59 to 25,763 compared w i t h 22,471 i n 1 9 5 7 /5 8 , an

i n c r e a s e of 14.6%, Commencements d u r i n g th e q u a r t e r a t

2

6 , 1 1 2 b r o u g h t th e t o t a l f o r 1 958/5 9 t o 2 4 ,2 6 9 co mpa red w i t h

23,21 6 i n 1 9 5 7 / 5 8 , an i n c r e a s e o f 4.5/ °·

In a l l o t h e r S t a t e s e x c e p t W e s t e r n A u s t r a l i a , "both

c o m p l e t i o n s and commencements were a t a h i g h e r l e v e l i n

19 58/59 t h a n i n 1 9 5 7 / 5 8 .

The g r e a t l y im p ro v e d home b u i l d i n g e f f o r t r e f l e c t s

t h e s u b s t a n t i a l i n c r e a s e i n t h e f l o w o f f i n a n c e from p r i v a t e

l e n d i n g i n s t i t u t i o n s , s u c h as b a n k s and l i f e a s s u r a n c e c o m p a n ie s

a s w e l l as the l a r g e c o n t r i b u t i o n s b e i n g made from g o v e r n m e n t

f u n d s , The Governme nt l o o k s t o p r i v a t e i n s t i t u t i o n s t o

m a i n t a i n t h e i r p r e s e n t s t r o n g s u p p o r t o f t h e h o u s i n g programme.

The l e v e l o f a c t i v i t y i n t h e n o n - r e s i d e n t i a l s e c t o r

o f t h e b u i l d i n g i n d u s t r y was a l s o a t a h i g h l e v e l d u r i n g 1 9 5 8 /5 9

The v a l u e when c o m p l e t e d o f n o n - r e s i d e n t i a l b u i l d i n g s commenced

d u r i n g 195 8 /5 9 was £177.1 m i l l i o n , compared w i t h £ 1 5 1 . 7 m i l l i o n

i n 1 9 5 7 /5 8 .

The h i g h l e v e l o f a c t i v i t y i n b o t h t h e r e s i d e n t i a l

and n o n - r e s i d e n t i a l s e c t o r s o f t h e b u i l d i n g i n d u s t r y r e s u l t e d

i n a s u b s t a n t i a l i n c r e a s e i n t h e number employed i n t h e

i n d u s t r y o v e r t h e y e a r 1 9 5 8 / 5 9 ·

The number employed i n t h e b u i l d i n g i n d u s t r y a t

3 0 t h J u n e , 1959, i . e . 1 1 9 ,9 3 7 has o n l y once b e f o r e b e e n

e x c e e d e d