The
slowing of the mining boom and public sector cuts in Australia will
lead to a dramatic drop in the number of new homes being built in parts
of the country, according to a new report. However, localised population
increases mean some pockets are set for a building boom, the report
also found.
The BIS Shrapnel Regional Building 2013-2015 report
identified the Coffs Harbour-Grafton area on the north coast of NSW as
the No.1 growth area for new dwellings next year with a forecast
increase of 52% for 2013/2014.
Alice Springs will experience the
biggest slow-down in new buildings, with annual commencements expected
to drop by 43% over the same period. Western Australia's Pilbara and
Kimberley region will also slow significantly by 36% and 22%
respectively.
Major investment in the Pilbara had driven strong
employment and population growth until recently, the report found,
however it said this was unsustainable. Building activity in the Pilbara
and Kimberley regions is expected to remain high by pre-mining boom
standards.
In Victoria, areas hit by recent factory closures such
as Geelong and Hume will sustain a drop of a projected 11% each. The
Australian Capital Territory (ACT) will see a 32% reduction in new
dwellings as public sector jobs are cut, the report said.
Source by Commodity Insights
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