23 July, 2012 07:09

Research sent to me:-

Housing industry heads further into recession…

Residential building activity contracted significantly in the March quarter, according to new research.

Data from the Australian Bureau of Statistics found the total value of residential building work done fell by 1.9 per cent in the March quarter with new dwellings down by 1.2 per cent and renovations down by a sizeable 5.5 per cent.

"New residential building work done has now fallen for four consecutive quarters, while renovations work done has fallen for three consecutive quarters," Housing Industry Association senior economist Andrew Harvey claimed.

"Combined with leading indicators which show further weakness ahead, there is no doubt that the Australian home building industry is in recession."

According to Mr Harvey, as the residential building industry continues to contract, Australia will see real consequences for jobs, small businesses, the supply of new housing and rental costs.

"Governments can no longer ignore the negative impacts on employment, housing stress and Australia’s economy," he said.

Comparing the March 2012 quarter with the March 2011 quarter, new housing work done is down by 8.7 per cent while renovations (alterations and additions) activity is down by 5.5 per cent.

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Removing the Hassle from Sales and Rentals across South East Queensland. Aim to Empower other like minded Property Investors. L J Gilland Real Estate is a prestigious boutique agency specializing in Property Investment Management Services and the Sales of Investment Properties with tenants in place. Comprised of a top performing group of handpicked specialists, our Agents proudly serve Property Investors in Queensland. Since 1996 our Agency has demonstrated a genuine enjoyment of working with people, developing long-term relationships and delivering on the promise of great service. Carlos and Linda Debello offer property investor's the confidence to sell and lease in any market. We provide comprehensive market appraisals, exclusive multimedia marketing campaigns, and knowledgeable, highly personalized counsel on all aspects of real estate. Our Property Management Team is equally considerate, offering investors with in-depth advise, well-researched rental valuations, and highly professional rental management services. http://goanimate.com/movie/0M4bvcZzgIbI?utm_source=linkshare&uid=0u6RGtWsmlVc Carlos’ direct mobiles are 0400 833 800 & 0413560808. Linda’s mobiles are 0409995578 & 0414978700 (prefer email contact for Linda). Office 07 3263 6085. http://www.ljgrealestate.com.au http://www.yellowpages.com.au/qld/aspley/lj-gilland-real-estate-pty-ltd-14091356-listing.html http://au.linkedin.com/in/lindajanedebello http://twitter.com/GillandDebello http://www.facebook.com/pages/ljgrealestate
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