Home building at decade-and-a-half lows

by Adam Smith17 May 2012

A beleaguered building products company has claimed home building is at its lowest level in 15 years.

In announcing its full-year profit results, construction materials company CSR claimed home building had sagged to perilous levels and looked set to remain there for some time.

Chief executive Rob Sindel told News Ltd that a lack of consumer demand has brought home building to its lowest levels in 15 years, excluding the GFC and the introduction of GST.

Sindel said it could be some time before the housing market would see recovery, in the wake of more cautious consumer behaviour.

"They are worried about interest rates and are holding back. What we really need is more consumer confidence," he said.