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.

Chronic housing shortage looming: Master Builders

Staff Reporter 1 minute read

Dwelling approvals released yesterday by the ABS showed barely any sign of change for February, and are now falling in annual terms, according to Master Builders Australia (MBA).

The total number of dwelling units approved, seasonally adjusted, rose by 0.1 per cent to 13,146 in February – 16 per cent lower than during February 2007.

“Recovery in residential building is being set back as a result of interest rate increases by the Reserve Bank and, independently, by the banks as they pass on higher borrowing costs,” MBA chief economist Peter Jones said.

He said Australia would now seem “destined to experience a chronic shortage of housing for an extended period,” with national building approvals running at only 158,000 per year.

“Approvals of 210,000 per annum would be needed to be maintained for at least five years to adequately cater for Australia’s housing needs,” he said.

Advertisement
Advertisement

Published: 08-04-08

Chronic housing shortage looming: Master Builders
default
TheAdviser logo
default

TODAY'S POLL

View results >

Who do you aggregate through?

Thank you for your vote, you can see the results here.

more from the adviser
mortgage choice 850 Major brokerage appoints new GM of distribution

Mortgage Choice has announced that Citi’s former head of bankin...

ANZ new still ta ANZ extends business loan terms

The major bank has announced that it will extend the maximum loan...

cash money rolls Credit growth stunted by dive in business lending

Credit growth has waned as a result of a sharp drop-off in busine...

FROM THE WEB