Powered by MOMENTUM MEDIA
Powered by MOMENTUM MEDIA
SUBSCRIBE TO OUR NEWSLETTER SIGN UP
Powered by MOMENTUM MEDIA

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

New home building slumps

Staff Reporter 1 minute read

Residential construction activity has recorded its sharpest quarterly decline in almost a decade but there are hopes that new home incentives should turn the trend around in the near future.

Residential building activity slumped 6 per cent in the March quarter, the ABS said yesterday.

Total construction, including non-residential building and engineering activity, was down 3.7 per cent compared to the December 2008 quarter.

Despite the bleak result HIA chief economist Harley Dale said the First Home Owner Boost for new homes and low mortgage rates would help to reverse the decline in new building activity.

“Leading indicators signalled long ago that the first half of 2009 would be a weaker period for new building activity. The substantial stimulus in place creates a strong prospect for this situation to reverse later in the year,” he said.

Advertisement
Advertisement

New home building slumps
default
TheAdviser logo
default
more from the adviser
houseandmoneyrates ‘Don’t rush in’: Risks of new housing scheme flagged

Broker support is critical for borrowers looking to capitalise on...

speed boat ta AFG welcomes specialist lender to its panel

The aggregator has welcomed specialty asset finance lender Austra...

business handshake 2 Finsure expands third-party team, appoints new BDMs

The mortgage aggregator has announced the appointment of new busi...

FROM THE WEB