Australian residential building approvals in high-rise complexes are increasing again. Strong population growth, affordability constraints for larger dwellings and commercial considerations for developers all help explain continued strength in approvals. ANZ Bank says this should help support construction activity through the remainder of the year. For anyone living in Sydney, […]
Most analysts agree Australia’s apartment-building boom has peaked, and along with it the stable contribution to growth from residential construction. However, Australia is still well-placed to benefit from additional growth in non-residential construction and infrastructure spending, according to Commonwealth Bank senior economist Katrina Clifton. Clifton said the positive impact will […]
Australian building approvals fell less-than-expected in July, offering further hope that the downturn in the nation’s residential construction will be shallower and slower than what many currently predict. According to the Australian Bureau of Statistics (ABS), total approvals fell by 1.7% to 18,299 in seasonally adjusted terms, leaving the year-on-year […]
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 […]
Whether measured by housing starts or building approvals, Australia is in the midst of a residential construction boom that has never been seen before. According to Australia’s Housing Industry Association (HIA), there were 602 locations across Australia that were housing construction “hotspots” in the 2014/15 financial year, a region deemed […]
Activity levels across Australia’s construction sector contracted at a faster pace in February, bucking strength seen in the nation’s manufacturing and services sectors during the month. The Ai Group-HIA performance of construction index slid 0.2 points to 46.1, leaving it at the lowest level seen since February 2015. Like all […]
Activity levels across Australia’s construction sector declined for a second consecutive month in January. The latest HIA-AIG Performance of Construction Index (PCI) came in at 46.3, down 0.5 points on the 46.8 level of December. It was the lowest level recorded since February 2015. Like all PMI gauges, a reading […]
Concentrated in only one sector.
Turnaround is coming. Any minute now.