New apartment and townhouse starts fell to an 11-year low over the four quarters to March, prompting building and infrastructure groups to list union pay and condition agreements among the rising costs and hurdles holding back the development of much-needed housing.
Dwelling commencements for attached homes dropped 5.5 per cent from the December quarter to 14,253, cutting the total over the year to March to 59,783 – the weakest since September 2012 – new Australian Bureau of Statistics figures showed on Wednesday.
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Michael Bleby covers commercial and residential property, with a focus on housing and finance, construction, design & architecture. He also dabbles in the business of sport. Michael is based in Melbourne. Connect with Michael on Twitter. Email Michael at mbleby@afr.com
