Feb 25, 2018 Last Updated 10:02 AM, Feb 23, 2018

New Entry From the Editor :

Australia slips to second place in mining investment attractiveness ratings

Australia slips to second plac…

AusBN - Australia has fallen to second place in the Fraser Institute’...

Wesfarmers reports 87% H1 profit plunge on business write-downs

Wesfarmers reports 87% H1 prof…

AusBN - Wesfarmers (ASX:WES) has reported an 86.6% nose-dive in its H1 net ...

Australian female labour force participation reaches record high

Australian female labour force…

AusBN - Australia’s female labour force participation rate reached a ...

Australian home building set to shrink says Deloitte economist

crane constructionAusBNAusBN - Leading economist Chris Richardson has predicted in the latest Deloitte Access Economics business outlook that the home building boom of recent years will start to recede.

“The pace of home building is set to shrink further amid increasing evidence that gravity may soon start to catch up with the stupidity in housing markets,” said Richardson.

The construction sector in Australia has been a key prop for the broader economy in recent years, with new homes in major cities in particular being built at an escalating rate.

The combined value of capital city dwellings increased by 9.6% over the past financial year, according to separate new figures, a number higher than the 8.3% rise seen over 2015/16.

Richardson's predictions will come as a welcome boost to prospective home buyers across the nation who have faced spiralling housing costs in recent years.

He also envisages that official interest rates will start rising from next year, following the global trend set by the US.

@AusBNOnline

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