More gloom for the housing market as building approvals slump further

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"The boost was a vital tool for first home buyers to get a foot in the door of the housing market," Mr Bidwell said. "Without it, home ownership has been put even further out of reach."

Money Property More gloom for the housing market as building approvals slump further 3:44pm, May 30, 2019 updated: 3:47pm, May 30 More gloom for the housing market as building approvals slump further. SYDNEY-The number of Australian homebuilding permits fell sharply for the second month in a row in December, fanning fears that a housing-sector slump will drag on economic growth. Approvals to.

More than $150 billion has been wiped off the value of Australian homes over the last six months, while the Reserve Bank has all but confirmed further cuts to interest rates.. The official Australian house price figures, released by the ABS on Tuesday, show Sydney and Melbourne driving the slump, with Melbourne recording its first quarterly price fall in seven years.

Housing construction in Sydney and Melbourne is headed for a major slump, with a downturn already underway at a national level.. expected in 2016/17 and a further 9 per cent in 2017/18.

Gold Attempts To Break Away From Daily Lows As U.S. Existing Home Sales Disappoint Spot Gold Prices held flat from last night’s US close by lunchtime in London on Thursday, but then sank nearly $5 inside 30 minutes to trade at a new one-week low of $671 per ounce.. The move repeated Wednesday’s sharp fall in the Gold Market, which came despite weak US housing data, and undid the sharp gains seen since last Thursday.

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After spending a few days at the start of the week consolidating its losses around the 1.40 level, the greenback pushed lower still under the relentless threat of further. Building permits will act.

The data shows a shift away from building new apartments and townhouses, with multi-units taking a bigger fall than detached housing. Mr Garrett said building approvals for multi-units were down by 21.5 per cent in the year to September, while approvals for detached houses fell 2.3 per cent in the same period.

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