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Residential building activity rose only slightly in the June quarter by 0.2 per cent, ABS data showed today.
Over the quarter the value of residential building rose to $9.876 billion.
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But Master Builders chief economist Peter Jones said the rise masked “a flat trend” that is set to continue as the full impact of earlier interest rate rises takes effect.
Mr Jones said even a reduction in rates starting from September would be unlikely to create any momentum in construction until well into 2009.
Published: 27-08-08
