The outlook for housing construction hangs on the ongoing strength of a stimulus-driven detached housing sector to keep activity ticking over for as long as the country’s lack of immigration remains a drag on apartments. This was likely, UBS economists said on Monday, even after new Australian Bureau of Statistics figures showed a 10.4 per cent monthly decline in new detached house approvals in May pulled total new dwelling approvals down a seasonally adjusted 7.1 per cent. Read more…

Source: afr.com

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