HOUSING APPROVALS DOWN

A building industry boom which followed last year’s June floods in the Hunter has all but dried up.

Australian Bureau of Statistics figures show home building activity in the region has slipped for the second month in a row, prompting fears of a further economic slowdown.

Len Blakeney from the Master Builders Association says it’s because of “a mix of interest rates, fuel prices, people are finding it tough that their cost of living has escalated, inflation. It’s a whole lot that’s come together at a point in time.”