While more than $50.3 billion of construction work done is historically speaking a huge figure, this is now some 7 percent below the Q4 2012 peak of $54.2 billion, with further declines assured.
Part 1 - Construction by sector
Engineering construction declined by only 0.6 percent in Q4 to be 12.1 percent lower over the year as we shall look at in Part 3 below.
There is no sign here of the so-termed "renovations boom" (aka. "alterations and additions").
Part 2 - State versus state
Part 3 - Mining cliff deferred
Meanwhile dwelling prices are also comfortably set to break new highs over the year ahead as homeowners enjoy record low mortgage rates.
The bulk of the mining capital expenditure decline, however, clearly remains in the post.
Residex reported its January 2015 figures this week which showed quarterly house price growth of 1.7 percent for Brisbane, and Sydney's market accelerating, the harbour city recording quarterly house price growth of 4.1 percent.
Invest in outperforming property: