Home Building Hits a Lull as Rate Hikes Bite

Home Building Hits a Lull as Rate Hikes Bite
An aerial view of suburban houses in Sydney, Australia, on April 22, 2020. Ryan Pierse/Getty Images
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A lacklustre pace of home building is expected to continue over the next two years and keep upward pressure on rents and house prices.

A string of interest rate hikes and a shortage of workers and materials have been keeping a lid on new home building, and fresh forecasts from the Master Builders Association show challenges intensifying rather than easing.

AAP
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Australian Associated Press is an Australian news agency.
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