Original article by Michael Bleby
The Australian Financial Review – Page: 31 : 11-Apr-19
BIS Oxford Economics is bearish about the near-term outlook for Australia’s housing construction market. The firm has forecast that the sector will be hit by a two-year correction, with the number of new dwelling starts tipped to fall to 161,000 a year. This compares with between 220,000 and 230,000 annually over the last four years. Meanwhile, official data shows that there was a 16.3 per cent decline in housing starts during the December quarter, which is the largest quarter-on-quarter fall since September 2000.
BIS OXFORD ECONOMICS PTY LTD, COMMONWEALTH SECURITIES LIMITED, AUSTRALIA. DEPT OF THE TREASURY, BROOKFIELD MULTIPLEX LIMITED