The Housing Industry Association (HIA) released its quarterly economic and industry outlook, which projected a sharp 20% reduction in dwelling starts this calendar year, and a further 2% fall in 2020:
“The low number of building approvals in the first three months of 2019 are of concern. With this poor quarter of results, the number of new homes being built has fallen by 15.2 per cent this year and a further decline in activity through this calendar year of around 11.0 per cent is expected,” stated HIA’s Chief Economist, Tim Reardon…
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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.
