ABN Group, the country’s second-largest builder, says housing starts this year will fall 5 per cent from last year’s total due to weakness in the Victorian market which, alongside its WA home market, accounts for half of its sales.
Even though demand in Victoria was likely to respond positively to expected rate cuts – unlike WA, where the sector was already at full capacity – a weak start to FY25 in the southern state would pull ABN’s yearly total below last year’s 3881 starts, chief executive Andrew Roberts said.
Loading...
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
