Australian Housing Growth Won’t Fill Mining Gap, JPMorgan Says

Australian housing investment is unlikely to fill the void left in the nation’s economic growth by a slowdown in the mining industry, according to JPMorgan Chase & Co.

A dearth of first-home buyer activity and a decline in home sales over the past decade mean housing will contribute less to gross domestic product than the losses from a slowdown in mining investment, Ben Jarman, economist at JPMorgan, wrote in an e-mailed report dated today.