Monday 4 August, 2008

Housing construction remains suppressed by high interest rates. 
Underlying demand for new dwellings at record high.

Total Australian building commencements are forecast to edge up by just one per cent in 2008/09 as high interest rates keep dwelling construction well below underlying demand, according to leading industry analyst and economic forecaster, BIS Shrapnel.

BIS Shrapnel’s latest building activity forecast report, Building in Australia, 2008 to 2023, anticipates a three per cent increase in new dwelling construction in 2008/09, offset by a marginal two per cent decline in non-dwelling building commencements.

Contact: Jason Anderson