According to The Australian Financial Review, housing construction is set to pick up in the second half of this year, after sentiment around residential construction posted its biggest lift in six years on the back of an improving property market and access to credit.
The ANZ/Property Council of Australia March 2020 survey pushed an index of expectations for housing construction over the next 12 months back into positive territory for the first time in six quarters, and the 14.6-point increase was the biggest quarterly gain since the December 2013 quarterly survey.
The turnaround in construction expectations follows earlier surveys last year that identified an improvement in credit availability, while official figures last week for November showed the decline in building approvals – an indicator of future housing activity – had likely troughed.
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