Budget Paper 1994-95 No.6 Northern Territory Economy
Tabled Paper 2156
Tabled Papers for 6th Assembly 1990 - 1994; Tabled Papers; ParliamentNT
Tabled by Barry Coulter
Made available by the Legislative Assembly of the Northern Territory under Standing Order 240. Where copyright subsists with a third party it remains with the original owner and permission may be required to reuse the material.
Housing and Construction Non-Residential Building and Engineering Construction Private sector investment in non-residential building o f a commercial nature is influenced by business confidence, the cost o f capital (ie. interest rates) and perceived demand. Public sector non-residential building investment is usually limited to providing for the administration needs o f government and projects that provide public benefit (for example, medical and educational facilities). The value o f non-residential building approvals during 1993 increased 47.9% largely reversing the decline o f 56% experienced in 1992. An increase o f 16.4% occurred nationally during 1993. Growth in non-residential building in the Territory was underpinned by strong private sector activity. A majority o f this expenditure was on new office space and refurbishment of existing office accommodation. Engineering construction includes all construction activity other than residential and non-residential building. Activity was dow n fo r 1992/93 by 30 .1% in comparison to 1991/92 as a decline in expenditure on transport infrastructure (roads and ports) more than offset a sharp rise in mining related activity. The ABS p u b lish e s c o n s ta n t p rice quarterly data on private investment in non-dwelling construction. Non-dwelling c o n s tru c tio n data covers both non- residen tia l bu ild ing and eng ineering construction. Figure 11.5 shows that private non-dwelling investment in the Territory began to recover in late 1992 and is now almost 80% above the level of December 1990. Nationally, non-dwelling investment remains some 30% below the level o f late 1990. Figure 11.5 Non-Dwelling Investment (December 1990 = 100) Index Source: ABS Catalogue No. 5242.0 68