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.
Today's other stories
Who do you aggregate through?
Thank you for your vote, you can see the results here.
Mortgage Choice has announced that Citi’s former head of bankin...
The major bank has announced that it will extend the maximum loan...
Credit growth has waned as a result of a sharp drop-off in busine...