Powered by MOMENTUM MEDIA
Powered by MOMENTUM MEDIA
subscribe to our newsletter
subscribe to our newsletter

Report reveals slump in commercial property construction

Conditions in the commercial construction sector have fallen back into negative territory, according to Master Builders Association.

The association’s National Survey of Building Construction index, which measures current conditions in the non-residential building sector, fell to 46.1 in the June quarter.

Master Builders Australia CEO Peter Jones said that despite earlier optimism, the latest index shows that the anticipated recovery in commercial construction has failed to materialise, reversing the confidence present in the December 2014 and March 2015 quarters.

Advertisement
Advertisement

“The index measuring expectations about future activity also dropped back for the second successive quarter as caution about the wider economy and fragile business confidence kept a lid on investment,” he said.

Meanwhile, China has overtaken Japan to become the leading Asia-Pacific nation for investment in commercial real estate, with volumes more than doubling in the second quarter of 2015.

According to a report by international real estate firm JLL, China’s commercial real estate transactions rose 54 per cent to US$7.9 billion in the three months to June, compared to the same period a year ago.

The liquidity in China was driven by funds seeking top-grade assets with strong yields, the report said, while sentiment improved in tier-one cities such as Guangzhou and Shenzhen.

Report reveals slump in commercial property construction
mortgagebusiness

Latest News

A major insurance provider has announced that it would restrict its offering of lender’s mortgage insurance in light of emerging risks ass...

Lenders will be allowed to extend their pre-approval period for borrowers using the First Home Loan Deposit Scheme given the coronavirus pan...

The federal government has announced several changes to the Takeovers Panel, which include the reappointment of an ANZ executive and the ap...

FROM THE WEB
podcast

LATEST PODCAST: Further relief for SMEs and borrowers

Do you expect COVID-19 to reduce or increase your business flows?

Why we’ll keep delivering for our communities in the face of COVID-19

alex

As Australia tries to keep pace with a rapidly changing business and social landscape in the wake of COVID-19, Momentum Media is leading the way delivering essential content to our communities, writes Alex Whitlock, director of Mortgage Business.

Read more

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.