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Weak home starts reveal acute housing shortage

Staff Reporter 1 minute read

New home starts fell by 3.7 per cent in the June quarter, to 38,348, the lowest level in a year, ABS data showed yesterday.

New house starts were up 5.4 per cent on the June quarter 2007 but other dwelling starts were down 3.7 per cent, year on year.

The Housing Industry Association (HIA) said the national dwelling shortfall for the 2008 financial year now stood at 40,000 – a figure likely to increase to 85,000 by the end of the 2009 financial year.

“Without further interest rate cuts and without success reducing structural barriers to affordable new housing, the shortage will blow out by even more,” said HIA chief economist Harley Dale.

Published: 16-09-08

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