ONLY CHARTS #539
Aus building activity, NZ population growth, US Q1 GDP growth nowcast, RBNZ OCR
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1. The number of dwelling commencements in Australia rose +8% q/q in Q4 2025 to an annualised 214k.
Detached house starts dipped a little in Q4 while higher-density starts rose nearly +20% q/q.
2. The number of dwellings actually completed in Australia in Q4 2025 fell 1.7% q/q to an annualised 174k. Fewer completed detached houses accounted for more than all of the decline in total completions.
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