Crunch time
More signs that the peak of the residential construction cycle has been and gone.
There was a 5.8 per cent drop in new house sales in June, and a 10.7 per cent drop in multi-units.
Considerable variation around the traps, with substantial monthly drops in New South Wales, Queensland, and South Australia.
Source: HIA
The Housing Industry Association expects dwelling starts to decline for next 18 months.