Monday February 21, 2011

New home approvals to rebound

Leading industry analyst and economic forecaster, BIS Shrapnel, is forecasting the current slowdown in new detached house approvals to begin to turn around in the middle of this year, setting the stage for stronger growth into 2011/12.
 
BIS Shrapnel’s Building Industry Prospects report shows the total number of new dwelling approvals is expected to rise eight per cent to 177,000 in 2011/12 – the highest level since 2003/04. New house approvals in the same period are forecast to rise 10 per cent nationally.

Contact: Mr Angie Zigomanis