Markets

Australia’s construction outlook ‘remains fairly weak’

Building approvals fell by 5.2% in July in seasonally adjusted terms, data from the ABS shows. There were sharper falls in Victoria and NSW, partly reflecting monthly volatility from the one-off effect of large apartment developments. Capital Economics said the outlook for construction investment “remains fairly weak”. New building approvals […]
Australia’s construction outlook ‘remains fairly weak’
Markets

Australian new home sales tumble to a 4-year low

Australian new home sales tumbled in June, falling to the lowest levels in close to four years. According to Australia’s Housing Industry Association (HIA), sales plummeted by 6.9%, leaving them sitting at the lowest level since October 2013. From a year earlier they fell by 11.9%. The HIA said that […]
Australian new home sales tumble to a 4-year low
Markets

It looks like Australia’s residential construction boom has peaked

Building approvals fell sharply in March after a rise in February, in a clear sign that the residential construction boom has reached its peak. Seasonally-adjusted building approvals fell by 13.3% in March to 16,484. Housing approvals dropped 4.8% and there was a significant 21.8% fall in construction approvals for new […]
It looks like Australia’s residential construction boom has peaked