Whilst the Australian housing market weathers the storm of the current downturn, economists point out the historical data shows we are in the midst of the highest low on record.
The housing downturn in Sydney and Melbourne is forcing builders to cover costs and workers to get creative as jobs become more scarce. However, in a report by ABC News over the weekend Master Builders Association chief economist Shane Garrett highlighted that the downturn is likely to still be the highest low in history. The construction industry is now seeing some of the
Tighter regulations on lending have been one of a number of
Whilst the honeymoon period is over for the time being the current climate is a natural reaction to the 2016 peak of 230,000 new homes built.
The Good News
Everything that goes up must come down, but thanks to an early adjustment with tighter lending it is likely we will be able to avoid a
Some positives that give the housing markets hope are tightening residential vacancy rates, an underlying demand that is still strong hindered only by consumer sentiment and tight credit and
Australians will be eagerly following the market over the next few months but we don’t believe the data aligns with more devastating downturns of the past.