THIS IS WHAT HOUSES AND HOLES … MACRO BUSINESS HAD TO SAY ABOUT THE ABC REPORT:
‘Why developers are delaying or abandoning half the apartments they planned to build’
CONSTRUCTION SLOWDOWN A MAJOR THREAT TO THE ECONOMY
‘Unemployment is going to rise. Interest rates are irrelevant. Immigration is in outright chaos and, at minimum, Labor will cut temporary visas.
Millennials with no pay rises and no Bank of Mum and Dad are useless to anybody.
The one good thing in the pipeline is Labor’s negative gearing reforms shifting to new builds. But that will not arrive before mid-2020 and likely won’t work much until house prices stop falling.
It’s going to get a lot worse before it gets better for developers.’
SOURCE: HOUSES AND HOLES: https://www.macrobusiness.com.au/2019/03/stalled-development-hulks-spread-east-coast/