GROWING THE SOUTH-WEST | Housing keeps economy ticking along

“There’s no evidence to support claims there’s an oversupply in housing,” said Tim Reardon, principal economist with the Housing Industry Association.

The HIA National Outlook explained why prospects are better than anticipated, highlighting the positive role of solid population growth and the mixed results of government interventions.

“We’ve seen stronger-than-expected building approvals justify upward revisions of our forecasts. We’ve revised our forecast for the number of starts in 2018 up to 195,000, from 184,000.

“New residential building has moved back but the slowdown is modest. Dwellings under construction are down by less than 1  cent from a year ago.”