It was the year Forrest Gump, Dumb and Dumber and the the Lion King were showing at the movies, the Gulf War was brewing, Michael Jordan made his first comeback to the NBA and I was in my first year of high school. 1994 was the last time that new home starts in Australia have been this low. In March 2012, only 5443 new houses across the country were sold which was the lowest number since May 1994 almost 18 years ago. In WA, new home sales dropped 12% in March which was second to Queensland's 15.3% drop according to the Housing Industry Association.
Most analysts are predicting a 25 basis point cut tomorrow when the RBA meets.
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