Residential building activity rose only slightly in the June quarter by 0.2 per cent, ABS data showed today.
Over the quarter the value of residential building rose to $9.876 billion.
But Master Builders chief economist Peter Jones said the rise masked “a flat trend” that is set to continue as the full impact of earlier interest rate rises takes effect.
You’re out of free articles for this month
To continue reading the rest of this article, please log in.
Mr Jones said even a reduction in rates starting from September would be unlikely to create any momentum in construction until well into 2009.
Published: 27-08-08
Want to see more stories from trusted news sources?
Make The Adviser a preferred news source on Google.
Click here to add The Adviser as a preferred news source.
Tags:
