Original article by Michael Bleby
The Australian Financial Review – Page: 31 : 5-Mar-24

Data from the Australian Bureau of Statistics shows that approvals for new detached homes fell by 9.6 per cent month-on-month in January, to the lowest level since mid-2012. Approvals for apartments, townhouses and semi-detached homes fell by 22 per cent. Tamawood CEO Robert Lynch says the house construction market has most likely reached its bottom; however, he cautions that factors such as high interest rates mean that a rebound may take some time. He adds that sales activity in the more affordable segment of the housing market – in which Tamawood specialises – is likely to recover first.

CORPORATES
AUSTRALIAN BUREAU OF STATISTICS, TAMAWOOD LIMITED – ASX TWD