Monday November 7, 2011
 
New housing market to improve after stalling in 2010/11

Leading industry analyst and economic forecaster, BIS Shrapnel, expects the beginning of a recovery in new lot production from 2011/12 across Sydney, south-east Queensland and Perth over 2011/12, while lot production in Melbourne and Adelaide will continue to weaken.
 
According to BIS Shrapnel’s Outlook for Residential Land, 2011 – 2016 report series, new house and land activity softened or fell in all major markets in 2010/11, due to the expiry of the First Home Owner’s Grant Boost Scheme, the sharp interest rate rises in 2009/10 (and further rise in November 2010), and slowing economic growth through the year.

Contact: Angie Zigomanis