Global quakes still delivering aftershocks to Australian housing
Even as international crises continue to wreak havoc on Australia’s housing sector, building approvals tumble, and construction companies fold, there are enough signs of hope that one major builder has scored the health of the industry at 6.5 out of 10.
Economist Jonathan Pain outlined a rather bleak picture of the current global political context. (Image source: UDIA WA)
Reverberations from global tensions and conflicts continue to resonate in Australia’s housing sector and building industry.
Building approvals continue to plunge, hamstrung by labour shortages stemming from an international pandemic, soaring building costs fuelled by supply issues brought on by a war in Europe and tensions with, and lockdowns in, China.
The total number of dwellings approved fell 6.0 per cent in October, following an 8.1 per ce…
