Tag: Harley Dale

Australia’s construction industry continues to contract, with September marking the fourth consecutive month that construction activity has fallen.

The Reserve Bank of Australia (RBA) made the right decision to keep interest rates on hold at it’s September board meeting yesterday, says the Housing Industry Association (HIA).

Australia’s construction industry continues to contract, with the latest AiG/HIA Australian Performance of Construction index at 43.2 for the month of August.

Home prices across Australia remain stagnant, increasing by 0.4 percent in July after falling by 1 percent in June, compounding the lowest new home sales volumes seen in 18 months.

New home sales in Australia dived 7 percent to an 18 month low in July according to the latest Housing Industry Association report into new home sales, triggering calls for federal government action to save the sector.

Housing affordability in Australia is close to record lows according to the HIA-CBA Housing Affordability Report for the June quarter 2010.

New home sales slumped to a 17 month low in June, adding further weight to the case for the Reserve Bank of Australia keeping interest rates on hold at their board meeting tomorrow.

New housing construction is set to stall across Australia, with the brakes applied to the post-GFC recovery after a significant tightening of monetary policy by the Reserve Bank of Australia.