Total new dwelling commencements dropped by 6.7 per cent during the December 2022 quarter and are very close to their lowest in a decade, according to the ABS building activity data for the December 2022 quarter.

Luke is joined by Denita Wawn, Master Builders CEO, who says the shrinking size of the new home-building pie is concerning.

“Building and construction activity makes a substantial contribution to the Australian economy.  Reverses in new home building will subtract from Australia’s overall rate of economic growth”, says Ms Wawn.

“Higher-density home building has sunk to its lowest in a decade at a time when inward migration is soaring to unprecedented levels. This combination is likely to further exacerbate rental market pressures.”

“A strong building industry is the foundation of a strong economy. The inextricable ties between construction activity and the broader health of the economy are again on display in the current environment.”

Total new dwelling commencements dropped by 6.7 per cent during the December 2022 quarter and are very close to their lowest in a decade, according to the ABS building activity data for the December 2022 quarter.
Luke is joined by Denita Wawn, Master Builders CEO, who says the shrinking size of the new home-building pie is concerning.
“Building and construction activity makes a substantial contribution to the Australian economy.  Reverses in new home building will subtract from Australia’s overall rate of economic growth”, says Ms Wawn.
“Higher-density home building has sunk to its lowest in a decade at a time when inward migration is soaring to unprecedented levels. This combination is likely to further exacerbate rental market pressures.”
“A strong building industry is the foundation of a strong economy. The inextricable ties between construction activity and the broader health of the economy are again on display in the current environment.”

Australia Overnight with Mike Jeffreys, 12am – 4am weekdays.

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Australia Overnight with Mike Jeffreys, 12am – 4am weekdays.
Wake Up Australia, 4am - 9:30am weekdays.

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