Australia’s property glut worsens

With the release this week of the ABS’ dwelling commencement and completions data for the June quarter, it is an opportune time to plot Australia’s latest quarterly dwelling construction data against actual and projected population growth, as outlined in last week’s federal budget.

First, below is the national picture, with annual population growth forecast to crater to just 50,000 in March quarter 2021 versus dwelling completions of around 180,000 dwellings:

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