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Flat outlook for dwelling commencements, says MBA

by Staff Reporter2 minute read

While there was increased activity in dwelling commencements over the past quarter, the long-awaited recovery is still some time off according to Master Builders Australia (MBA).

National dwelling commencements rose in the September quarter by a seasonally adjusted 1.3 per cent to 37,647. They were still down however by 0.8 per cent compared to the September quarter of 2006.

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“Interest rate speculation continues to dampen confidence and delay recovery,” said MBA's chief economist Peter Jones. “It is difficult to see a sustained upturn gathering momentum in this environment.”

According to Jones, higher interest rates will continue to keep a lid on increaded dwelling commencements.

“The industry still faces strong headwinds in the form of poor affordability and a lack of investor logic in the private rental market,” he said.

 

Flat outlook for dwelling commencements, says MBA
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