Yep, sorta what I said. Give it time...Resi construction slipped in that quarter by 1.1%.
The uplift is everywhere else.
Looks like we're not dead just yet:
First base for a housing bounce
Angie Zigomanis said:As the pool of potential first-home buyers is finite at around the 130,000 per annum level, it means that a future demand of around 60,000 first-home buyers had been brought forward to take advantage of the boost. With about 90,000 to 95,000 loans to first-home buyers expected over each of 2010 and 2011, this 'pull forward' effect has now largely been exhausted, and demand from first home buyers should slowly return back to underlying average levels.
Yes, I know, its BIS. But sometimes the message is informative despite the messenger. Still looking over my shoulder at Europe, but domestically things are ticking in the right direction barring a complete freeze on global financial markets which isn't out of the question.
Cheers,
Michael