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1.Market Observations, 8.Was Sticky

26 July 2018 (AFR) – Building dip unlikely to hit economy hard – Building slump no ‘handbrake’ for economy

(26 July 2018, AFR, p29, by Sarah Turner)

‘Expectations of a sharp drop in housing starts at first blush look like another bad sign for the housing market, signalling builders are no longer confident in the outlook for property demand. Building starts will fall sharply over the next few years, according to BIS Oxford Economics, which predicts a 22 per cent drop to 171,350 by 2020, from this year’s forecast of 219,900. The expected drop in housing starts in 2020 will be led by high-density dwelling construction, set to nearly halve from this year’s 59,000.’

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