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Following the ABS’ release of building activity data it has accumulated for the September Quarter 2022, the Housing Industry Association (HIA) says labour shortages are contributing to the slow pace of homebuilding nationwide.
Aussie home builders had been commencing more new projects that they had been completing, new data showed, as supply constraints and labor shortage continue to dampen construction activity.
Land prices will continue to trend downwards, economist says
Booming Q3/22 building activity figures — even after rising rates started — have been recorded, latest ABS figures have shown.
As higher interest rates are expected and the property market demand eases, economists expect further price falls in the coming months. Australian home values have dropped 8. 40 per cent since May 20