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ANZ forecasts that Melbourne and Sydney are facing housing shortages as dwelling construction plummets amid ongoing strong population growth:
ANZ analysis said that there is little sign so far that higher prices for established homes are driving a pick-up in construction…
According to senior economist Felicity Emmett, the decline in approvals suggests that construction will continue falling and will not pick up until mid-2020.
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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.