Housing industry headed for recession

by Adam Smith18 May 2012

The residential building industry has claimed it is heading into a recession, and has warned the government to act to stave off job losses.

The Housing Industry Association's managing director Shane Goodwin has made the claim at the group's National Policy Congress. He called on the government to halt the "spectre of even further declines".

"The Australian housing industry is facing its worst conditions in decades. New home building has collapsed and jobs are being shed right across the country," Goodwin said.

Goodwin commented that the home building industry had suffered eight years of declining activity, placing it on the "brink of recession".

"What the Australian economy needs now is a revitalisation of the housing industry through tax relief and an injection of investment and funding into the new housing sector. Such an injection will provide a profound economic dividend to the broader economy," he said.

Goodwin warned that, should the housing industry enter recession, it could drag the rest of the Australian economy with it.


  • by Alfred A Arnold Be Mba Jp 18/05/2012 11:07:54 AM

    Are you mad, what a comment,Mr Swan has told you Australia is a prosperous country with high unemployment and work for all under the Governments policies, Why with our new carbon tax, and taxing the mining companies and all of their successful policies over the last 3 years we are going great. And if you beleave this crap, you will see how this bloody government is a total waste of space.