The ABS reported yesterday that housing starts have fallen a seasonally adjusted 13.2 percent in the September 2010 Quarter. In the ACT, falls were as large as 30 percent.
It is the biggest fall since the GFC with some economists explaining the plunge due to the weather or high rain fall during the quarter. Other economists are suggesting the end of the first home buyers boost stimulus program is more likely the main culprit.
» 8750.0 – Dwelling Unit Commencements, Australia, Preliminary, Sep 2010 – ABS, 14th December 2010.
» Housing starts depressed by rain – NineMSN, 14th December 2010.