Note: Where available, the PDF/Word icon below is provided to view the complete and fully formatted document
Building approvals - no cause for rejoicing



Download PDFDownload PDF

Media Release G eoff Prosser M.P. FEDERAL MEMBER FOR FORREST

S h a d o w M in is t e r fo r Small Business, H o u s in g a n d Customs.

31 October 1991

BUILDING APPROVALS - NO CAUSE FOR REJOICING

The September increase in building approval figures give little cause for rejoicing, according to the Shadow Minister for Housing, Geoff Prosser.

The figures, released today by the Australian Bureau of Statistics, show a 2.7% rise during Septem ber (seasonally adjusted) over the previous month.

"Today's figures come on top of a fall in building approvals in August, a fall in housing finance over August and a fall in new home sales during Septem ber (HIA figures).

"Quite clearly, the housing industry continues to suffer the effects of fluctuating demand which is causing wild peaks and troughs."

Mr Prosser said that, taken collectively, the recent housing statistics indicate that Australia is still in the midst of a rolling recession.

"Unfortunately, there is little hope for an on-going and sustainable recovery in the building and construction sector while ever unemployment remains at unacceptably high levels and there is a lack of confidence in the market place."

ends Canberra

Contact: Geoff Prosser (097) 91 1146

COMMONWEALTH PARLIAMENTARY LIBRARY M IC AH