Friday’s housing finance data for June showed more clear signs that the dwelling construction cycle is approaching its peak, with the number of commitments for construction and new dwellings slumping by a combined 0.5% in June to be down by 9.1% over the year (see next chart).
Looking at the rolling annual figures, the boom in new housing commitments peaked in November 2014, and is clearly now in a downtrend (see next chart).
Advertisement