ANZ: Construction bust to trigger housing shortages

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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