HIA: House building set for worst year in a decade

As the rising interest rates start taking the desired effect, the Housing Industry Association (HIA) is predicting a slowdown over the next two years.

“The number of detached houses commencing construction is set to decline this year and next to its lowest level since 2012,” stated HIA Chief Economist, Tim Reardon.

Currently, there is a record number of homes under construction, which will ensure the construction industry remains busy for the short term.

Read the full article here.

Credits: Housing Industry Association, Tim Reardon (Chief Economist)