There’s expected to be a drop in the number of new residential constructions in the A.C.T
Master Builders A.C.T. is predicting the territory’s new-builds will reduce from 5,800 last year to about 5,000 in 2024.
The group’s C.E.O Michael Hopkins says the downturn is the result of a restraints in local construction.
Some of the reasons include Canberra’s tight land market, a policy on slow land releases and bottlenecks in the territory’s planning approval process.