Question re impact of low interest rates on Money3, page-11

First developers draw up their plans, then get approvals & then they have to get sufficient presale before startting construction.
Just around where I live near the Melbourne CBD there are plenty of buildings with showrooms that can't get sufficient presale to start construction, some for several years.
The drop in approvals will be a fall out of developers having projects that they can't get sufficient presale, why bring more online when you can't sell what you already have.
With 25%+ of new apartments currently being settledt at a higher price than what they are worth who would buy an apartment off plan at the moment?
Meanwhile the existing projects being built that take 18 months+ to build will continue to employ the same level of tradies, only when they come to completion & the pipeline dries up will people be laid off.

Where we are in the cycle when people are being laid off I'm not sure but you only have to walk around Melbourne to see there are still plenty of tradies being employed building apartment blocks, most of which are currently approx 75% to their ultimate height.

My advice would be to keep your own eye on what is & isn't being built around where you live & see how that is changing. Just from my observations I wouldn't expect significant layoffs until 2020.