Building Forecasts > Report
Total building commencements eased back an estimated 11% in 2018/19, with a further 11% decline expected for 2019/20. This should represent the trough, as a series of stimulus measures, including interest rate cuts, help spur a recovery for residential building in 2020/21 (+7%). By this point, high density apartment construction will be the only segment of the building market still softening. Compared to our June 2019 forecast update, the outlook for total building is largely unchanged.
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