Welcome to this week’s Real Estate Wrap with Leanne Pilkington, Managing Director of Laing+Simmons and President of the REINSW. Our theme has been one of optimism in recent weeks and new figures suggest that, despite mixed messages at an economic level, this position is justified.
It’s about finding the silver lining. In this case, we can look to the news of the slowdown in residential building activity. The Daily Telegraph quoted Chief Forecaster for the Australian Construction Industry Forum, Kerry Barwise, over the weekend as saying that: “where growth in residential building activity had been slowing, it is now definitely in contraction”.
For property owners, the sharp slump in building activity means the return to price growth can now be expected, not just hoped for. As to whether the next boom is as pronounced as the last, and as quick to follow the GFC-type building levels we’re now experiencing, remains to be seen.
Find out more in The Real Estate Wrap for this week here:
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