Pipeline of Housing Stock Has Peaked but Pending Supply Remains Well Above Long Term Average Levels

Building activity data for the June 2017 quarter was published by the Australian Bureau of Statistics earlier this week.  The data contains additional insight to the housing construction sector, tracking quarterly dwelling commencements, completions and counts of dwellings under construction.  The data is showing a softening in commencements as approvals have slowed but still heightened levels of completions and dwellings under construction. 

Dwelling commencements

Over the June 2017…