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1.Market Observations, 8.Was Sticky

24 May 2017 (AFR) – March construction falls as residential work slumps at fastest pace in 16 years

(24 May 2017, AFR, p7, by Michael Bleby)

Quarterly value of building work

Quarterly value of building work

‘Developers put the brakes on new residential projects in the first three months of the year, causing housing construction to fall at its fastest pace in more than 16 years. The 4.7 per cent decline in residential building cut the quarterly total to a seasonally-adjusted $17.2 billion and was the greatest quarter-on-quarter decline since December 2000, when it slumped 8.2 per cent, Australian Bureau of Statistics figures showed on Wednesday. ‘

Read more at AFR.com (might need AFR login access, or try: AFR.com/trial)

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