Dwelling commencements tank as boom nears end

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By Leith van Onselen

The ABS has released dwelling construction data for the March quarter of 2017, which recorded falls in both dwelling commencements and completions.

According to the ABS, the number of dwelling commencements slumped by a seasonally-adjusted 11.4% over the March quarter and were down by 19.2% over the year. Detached house commencements fell by 7.7% over the quarter and were down by 8.1% over the year, whereas unit commencements fell by 15.1% over the quarter and were down by 28.4% over the year:

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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.