Property

New housing weakening

BUILDING activity slowed noticeably in the December quarter, placing further pressure on the Reserve Bank to cut the cash rate.

The Australian Bureau of Statistics building activity figures, released on Wednesday, showed a weakening for both new housing and major alterations and additions activity.

New residential building activity fell by 1.7 per cent, seasonally adjusted, while alterations and additions to residential building fell 2.1%, but activity in this field was up 2% year on year.

The total value of work completed in the quarter dipped 4.9%, seasonally adjusted, and 9.1% for the year to December.

Housing Industry Association chief economist Dr Harley Dale said the "persistent weakness in Australia's residential construction industry" was a major concern.

"The situation is very clear - interest rates are too high, the short term focus on a return to budget surplus miss-timed, and housing policy reform too slow," he said.

The Reserve Bank will next meet on May 1 - a week before the Federal Budget is delivered - with a cut to the cash rate, which sits at 4.25%, widely tipped.

"In the December 2011 quarter seasonally adjusted residential building work ... fell for a third consecutive period," Dr Dale said.

"Evidence over 2012 to date confirms further weakness this year."

Topics:  australian bureau of statistics housing reserve bank



Six hideaway bars to escape winter chill

THE last season of GoT finally uttered the words we’ve been waiting six seasons to hear and now that the weather has cooled down in Brisbane, “winter is here.”

Our six art gallery picks for a creative day out

Queensland's Gallery of Modern Art always has a fun, exciting and interesting exhibition on show for the whole family to enjoy.

YOU'D be mistaken in thinking Brisbane wasn't an arty city.

Brisbane's arts and culture events centre stage

You loved the film, now you're about to love the musical. Don't miss The Bodyguard The Musical in Brisbane this July.

THE arts and culture events you don't want to miss.

Homewares stores to fulfil your Instagram dreams

No Caption

You too can become an Insta-star with these fab stores.

Date nights under $50

Nothing is more romantic than a picnic with a cracking view.

NOT every date has to cost you a bomb.

Top 10 Brisbane experiences to cross off your bucket list

Do yourself a favour and get amongst the food truck scene. Eat Street is a great place to start.

A GOOD bucket list doesn’t have to span continents or cost millions.

Six mega sporting events you need to be at this year

Don't miss all the action trackside this season.

IF THERE is one thing Brisbane does damn well, it’s play host.

Scots PGC students chat with our Governor-General

RARE OPPORTUNITY: Scots PGC students Amelia Meek, Evie King, teacher Michael Keevers, Lesego Liebenberg and Samuel Proudlove after their Skype chat with Governor-General Sir Peter Cosgrove.

A classroom of Scots PGC students have had a rare opportunity

BREAKING: Crews to rush to Southern Downs fire

fire generic.  Fire truck.

Warwick fire crews are rushing to the scene of a chimney fire

Warmer autumn brings extra crops for some

LATE HARVESTS: Chris Wren of Wrens Valley Produce said the warm autumn had been positive for him.

The Granite Belt has experienced an unusually warm autumn

Local Partners

Musical tribute to flood volunteers released

LISMORE songwriter Simon Thomas was moved by the kindness of strangers.

Karl Stefanovic's rant about Schapelle Corby 'a bit rich'

Karl Stefanovic is sick of hearing about Schapelle Corby.

Maybe he just wanted to make himself the story.

Could Schapelle be heading for Gladstone?

Australian Schapelle Corby is escorted by Bali Police at the parole office in Denpasar, Bali, Indonesia, 27 May 2017.

Schapelle's mother teases her free daughter could be Gladstone bound

Six things you never knew about Men in Black

Mushu the pug

It's been 20 years since Men in Black first hit cinemas

10 strange stories behind famous sex scenes

Khaleesi and Khal Drogo in a steamy moment.

Every set has their own way of filming sex scenes

HBO spills new details on Game of Thrones’ final season

Game of Thrones’ eighth and final season will only have six episodes.

New details about what to expect from the eighth, final instalment.

Karl’s rant on Corby: ‘Made to look like idiots’

Karl Stefanovic is sick of hearing about Schapelle Corby.

Today co-host launched a tirade against Schapelle Corby media circus

New $46.7m counter-terrorism facility to be built in Wacol

Premier Annastacia Palaszczuk, pictured with Police Commisioner Ian Stewart, has announced plans to build a new counter-terrorism facility in Wacol.

The facility will be built over three years.

Home to a sex worker: Sordid history of iconic Coast shed

Milojevic Djordjevic's daughter Linda at the derelict shed on Yandina-Coolum Road.

The shed was once a liveable 'barrack'.

This is real estate's billion-dollar man

Bob Wolff at AREC with John McGrath of McGrath Real Estate.

They don’t call him the “Billion dollar man” for nothing

Man's amazing comeback from monster crisis

Pat O'Driscoll agents Penny Keating and Doug Webber sold 56 Agnes St, The Range at auction over the weekend.

NOT long ago, he sold his possessions to pay staff. Now he's back.

Report reveals progress on $319m airport upgrade

Aerials of the Sunshine Coast.Jetstar plane in front of the Susnhine Coast terminal, Sunshine Coast Airport.

Over two dozen government approvals needed for airport expansion

Ready to SELL your property?

Post Your Ad Here!