New housing construction is likely to defy the pattern of previous slowdowns and remain at historically high levels, says the Housing Industry Association.

 

New dwelling investment is forecast to grow for a fourth consecutive year in 2015/16. New home building is expected to bottom out at 160,100 new housing starts in 2017-18, compared to 220,000 in 2014-15.

 

Total housing starts stood at 215,329 in the four quarters to September, up 11% on the same period a year earlier, driven largely by the increase in construction of high-rise units.

 

The apartment market is likely to slow down, while standalone homes are expected to be more resilient.