๐ก๐ฒ๐ ๐๐ผ๐บ๐ฒ ๐ฆ๐ฎ๐น๐ฒ๐ ๐๐ฒ๐ฐ๐น๐ถ๐ป๐ฒ ๐ฑ.๐ด%
Australia is โheaded for its weakest year of new house commencements in over a decadeโ, according to the Housing Industry Association (HIA).
New home sales in October were 8.1% lower than the previous month (see graph) and 5.8% lower than the previous year.
HIA senior economist Tom Devitt said the relatively low number of new homes being sold now will lead to a decline in home building starts in the near future.
โThis coincides with Australiaโs deepening housing crisis, with record population growth and acute rental shortages reflecting the need for a strong pipeline of new housing supply,โ he said.
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