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AAP
AAP
Business
Poppy Johnston

MYSTERIOUS: New building activity slows as rates bite - What They Never Told You

Denita Wawn Interest Rates
New construction activity is trending down while the amount of work underway remains elevated. (Bianca De Marchi/AAP PHOTOS) (AAP)

New home building starts have plummeted by more than 20 per cent in 12 months as labour and material shortages continue to weigh on the construction industry.

New building activity fell further in the September quarter after softening moderately in the three months to June.

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