FORECASTS released by Australia’s peak building industry association predict that new residential dwelling starts in the ACT will fall from 5810 in 2022 to 5000 in 2024.
CEO of Master Builders ACT Michael Hopkins said the predictions reflect constraints on local construction caused by Canberra’s tight land market, slow land release policies, and bottlenecks in the planning approval process.
“The current and predicted level of residential construction is not sufficient to keep up with Canberra’s forecasted population growth,” said Hopkins.
https://citynews.com.au/2022/act-residential-construction-predicted-to-slump/
