Wednesday 14th March 2012

Housing sector still in decline

by Alan Thornhill

Australia’s housing industry is still in decline.

The Bureau of Statistics reports that there were 33,653 new housing starts in the final three months of last year.

But private sector housing starts fell by 2.7 per cent, from the level seen in the September quarter and by 7.7 per cent over the year.

The figures, for other kinds of housing, such as flats, were even more dramatic.

These fell by 13.9 per cent in the December quarter and 17.4 per cent over 2011.

All of these figures are seasonally adjusted.

The Bureau also reported that the number of new finance deals approved, for owner occupied housing, fell by 1.2 per cent, in the 12 months to the end of January.

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Alan Thornhill is a parliamentary press gallery journalist.
Private Briefing is updated daily with Australian personal finance news, analysis, and commentary.

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