Director of BIS Oxford Economics, Frank Gelber, has forecast a relatively mild 10% reduction in Australian building activity over three years. From The Australian:
With the residential downturn under way, it’s just as well that non-dwelling building will be strong… But the strength of non-dwelling building won’t be enough to make up for the residential decline. We’re looking at a contraction of almost 10 per cent in total building over the next three years…
