Housing starts for Australian dwellings fell 4% in the June quarter. This was significantly greater than what most economists were expecting with a consensus of 0.5%.
However NSW recorded much worse results. For the June quarter, Housing starts in NSW was down 20%, reaching the lowest starts since the early 1980s.
» Housing starts fall in ‘dismal’ NSW market – The Sydney Morning Herald, September 13th, 2007.
» Figures show dip in building of new homes – The ABC, September 13th, 2007.