Victorian Property Market Remains Constrained Amid Diminishing Construction

The construction of new dwellings across Victoria has dipped 3 percent from 12 months ago and is expected to continue to decrease in the succeeding years.
Victorian Property Market Remains Constrained Amid Diminishing Construction
A sale board stands out the front of a property in Melbourne, Australia, on June 17, 2011. Quinn Rooney/Getty Images
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New housing in Victoria is slated to be the lowest in seven years, making it harder to achieve the Victorian government’s decade-long housing target of 800,000 new homes.

Urban Property noted that the construction of new dwellings across Victoria had fallen 3 percent from 12 months ago, with 67,400 houses underway, citing Australian Bureau of Statistics data.

Celene Ignacio
Celene Ignacio
Author
Celene Ignacio is a reporter based in Sydney, Australia. She previously worked as a reporter for S&P Global, BusinessWorld Philippines, and The Manila Times.
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