Urban Taskforce CEO, Tom Forrest, said that today’s quarterly ABS commencements and completions statistics reflect a sharp downturn in confidence and housing project feasibility.
Today’s data is for the period between the start of the year and the end of March when we saw two interest rate rises (the third came in May) and the start of the war in the Gulf.
Urban Taskforce said that the impact of the interest rate rises spelt danger for the Housing Accord targets and today’s data shows that this was correct.
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