Aussie Homebuilders Not Seeing Oversupply Signs -- Market Talk
0210 GMT - There is no evidence to support claims that there is oversupply in Australia's
housing market, says an industry-group economist. An apartment boom in recent years has
prompted some market watchers, including the central bank, to warn of a dangerous supply
overhang. But the Housing Industry Association has increased forecasts on
home-construction forecasts to account for ongoing strong sales. It now sees starts
totaling 195,000 next year, 5.4% higher than before, as the group also says strong
population growth has kept demand for housing at elevated levels while low interest rates
and a willingness to invest has enabled supply to respond accordingly.
SIO Price at posting:
30.5¢ Sentiment: Buy Disclosure: Held
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