Property settlement services would be flourishing, if everything was mostly A-ok with banking and the credit supply chain in Australia.They are not, and SAI Global  Holdings I (Australia) Pty Ltd finds itself on ratings outlook "negative", down from "stable", on the say-so of S&P Global Ratings."We also affirmed the long-term issuer credit  rating on the company at B," S&P said yesterday."Lower transaction volumes as well a structural loss of market share in the mortgage settlement market have worsened the company's property segment," the ratings agency said.One feature of the property settlement flow is new builds, and on that topic, Alexandra Heath, head of the economic analysis department at the Reserve Bank of Australia, provided a counterpoint to S&P's single company commentary.On the supply side, Heath said, "the pipeline of residential construction that has been approved, but not completed remains high in New South Wales and Victoria. There is also a reasonable pipeline of work in Queensland, although it has already started to decline. "Based on recent approvals data and expected demand conditions, this suggests that dwelling investment in New South Wales and Victoria will remain at a high level for a number of years."Liaison contacts have suggested to us that capacity constraints in the construction industry, particularly in New South Wales, will make it difficult for construction activity to increase.