Housing starts fell more than expected in the March quarter, according to data from the Australian Bureau of Statistics. The data showed total starts fell a seasonally adjusted 12.6% in the three months to March 31, to 30,623 units.

The result came after a upwardly revised fall of 4.5% in the December quarter and despite two rate cuts by the Reserve Bank at the start of they year

CommSec analysts had expected a 1.5% fall in new home starts during the quarter.

This article first appeared on SmartCompany.