Australia is expected to see a further expansion of the resources sector in the next few years, which will ultimately impact the housing industry, says RBA deputy governor Ric Battellino.
At the 6th National Housing Conference in Melbourne yesterday, Mr Battellino said that the key implications for the housing industry are the rate of growth in the population, demand for labour, increased household incomes, and the subsequent demand for housing.
“The construction industry is [also] likely to face substantial competition for workers from the mining sector,” he said.
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“While this suggests a generally positive environment for the housing sector, it will not be without its challenges,” Mr Battellino said.
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