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.

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