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The ABS has released dwelling construction data for the December quarter, which recorded a sharp quarterly fall in commencements and a smaller decline in completions.
According to the ABS, the number of dwelling commencements fell by a seasonally-adjusted 16.3% over the December quarter and were down by 16% over the year. Detached house commencements fell by 7.6% over the quarter and by 10% over the year, whereas unit commencements fell by 26.8% over the quarter and by 23% 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.
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