realestatebusiness logo
Subscribe to our newsletter SIGN UP

Scarce credit affects dwelling developments

26 August 2009 Reporter

Risk-averse banks and lenders demanding higher pre-commitment sales in order to provide finance are causing the housing industry to suffer.

According to housing industry analysts, work on new high rise apartment projects has collapsed since the start of the year as developers struggle to secure loans.

The Housing Industry Association (HIA) expects official data, released later today, to show there has been a drop in housing starts.

HIA chief economist Harley Dale predicts a 17 per cent drop in housing starts over the last financial year, a 13 per cent drop in work on stand-alone homes and a 26 per cent drop in high and medium density projects.

Scarce credit affects dwelling developments
lawyersweekly logo
Recommended by Spike Native Network
Listen to other installment of the Real Estate Business Podcast

Where is the biggest threat to agents in 2019?

3rd party lead generation companies
DIY models discounting sales commission
Prop-tech firms cutting out the agent value proposition
A yet unidentified proper disruptor – like Uber or Airbnb
None of the above. There is no threat.
Do you have an industry update?
Ensure you never miss an issue of the Real Estate Business Bulletin. Enter your email to receive the latest real estate advice and tools to help you sell.