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1.Market Observations, 2.Economic forecasts, 8.Was Sticky

24 May 2017 (AFR) – Slump coming for housing construction in Sydney, Melbourne

(24 May 2017, AFR, p37, by Nick Lenaghan)

Residential building approvals

Residential building approvals

‘Housing construction in Sydney and Melbourne is headed for a major slump, hit by apartment oversupply and credit tightening, according to industry analysts Macromonitor. The downturn is already underway at a national level, with Macromonitor forecasting a total decline in dwelling starts of 23 per cent from the peak in 2016 to a trough in 2019.’

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

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