Note: SubbiesUnited are pleased to see that Master Builders are reading our articles such as "Are we on the brink?" Better late than never to get the word out there guys.
I told you they are dreaming if they think record low interest rates would have people rushing out to borrow money..
QUEENSLAND’S peak construction body has urged local builders to prepare for tough times ahead, with some areas already in ‘dire straits’.
Hayden Johnson, The Courier-Mail Subscriber only|August 13, 2019 6:54pm
A SLUMP in building approvals coupled with the sluggish economy has prompted the state’s peak construction group to issue a warning to nervous builders.
Master Builders Queensland has urged its 8500 members to prepare for a tough 12 months, with building approvals and construction activity “in freefall”.
The number of new dwelling approvals across the state has fallen 27.4 per cent compared to June last year, according to the Queensland Government Statistician’s Office.
Australian Bureau of Statistics figures show a slight increase, 0.2 per cent, in the total number of dwelling approvals compared to the previous month.
The state’s monthly increase compares to a national fall of 1.3 per cent.
In the private sector, Queensland’s number of home approvals decreased 0.4 per cent in June, with a total of 1680 houses approved.
The figures paint a bleak picture for the construction industry, which has suffered a downturn through tighter lending conditions and a weak home-buyer market.
“We are gravely concerned, the industry is really in freefall,”