Has developer confidence taken a hit as dwelling commencements sag?

Building Activity data for September 2016 was released earlier today by the Bureau of Statistics.  While this is not one of the major economic releases each quarter, it does include a lot of really important data relating to housing construction.  Therefore, it is important to unpack the release and have a look at what the data is showing.

Dwelling commencements

Over the September 2016 quarter there 55,070 dwellings commenced which was -2.8% lower than over the previous quarter and…