22 Dec 2020

Report forecasts house building crash over next three years

From Morning Report, 8:10 am on 22 December 2020

A new report forecasts the numbers of houses will fall substantially as banks tighten lending.

The value of residential building is tipped to hit just $13.4 billion in 2023 - a massive 43 percent down from last year.

Residential building makes up the bulk of construction activity and is typically the hardest hit by changing economic conditions.

Graham Burke is Construction Industry Council chair.