Good signs for building industry, but conditions will remain weak this quarter

Yesterday’s new ABS data on housing loans were a good sign for the Queensland building industry, as they confirmed strong growth through the year (at 5.8%) in lending for the construction and purchase of new dwellings (also see the HIA media release). Another positive sign is the continuation of positive confidence levels among businesses in the building and construction industry, according to the Queensland Master Builders’s most recent Survey of Industry Conditions. Master Builders is forecasting that the industry continues to recover, with a significant improvement in the September quarter, which runs from July to September (see Master Builders’s chart below). However, as Master Builders notes, “while conditions are expected to rebound further in the September quarter, they will not yet be in expansionary territory.”

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