Recently released figures from the Australian Bureau of Statistics (ABS) shows that the total number of housing starts fell by 7.3% in the June quarter of 2009.
Detached house starts grew by 4.2% however, the number of apartment or multi-unit starts dropped by 21.5%.
In Victoria, housing starts fell by 3.7%, 10.4% in Queensland, 9.6% in South Australia and 6.3% in Western Australia.
According to the results of Master Builders Australia's National Survey of Building and Construction for the September quarter 2009, the Government stimulus package continues to underpin confidence and construction activity.
However, Master Builders predicts a fall in construction output of between 10 and 15% over the course of 2009/10 and 2010/11. This being the case, it is hard to see any change to the current situation regarding the supply of new dwellings.
The on-going shortfall of supply of new housing will put increasing pressure on demand and thus prices in the years ahead.
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