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    Default Home building at 23-year low

    Home building at 23-year low

    Geoffrey Newman | September 14, 2007

    NSW led a nationwide decline in home building in the June quarter, with the lowest number of homes being built for at least 23 years. The drop is likely to increase pressure on housing affordability.

    The number of homes being built in NSW in the three months to June slumped by 20per cent to 6514, seasonally adjusted, the lowest quarterly figure since the Australian Bureau of Statistics began compiling the data in 1984.

    Home starts nationwide fell 4per cent to 36,512.

    In the year to June, total dwelling commencements fell 3.4 per cent. The number of new homes being built in Western Australia plunged 6.6per cent, and the figures were also down in Victoria and Tasmania.

    But starts rose in Queensland and the Northern Territory and surged 14.6 per cent in South Australia.

    http://www.theaustralian.news.com.au...-25658,00.html
    "There's one way to find out if a man is honest-ask him. If he says 'yes,' you know he is a crook." Groucho Marx


 

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