New home approvals at 5-year low as credit crunch bites harder
Figures for November 2018 show that new approvals for dwellings are down to their lowest since August 2013 as the chill from the credit crunch becomes even more visible.
Construction ends 2018 in the red amid weaker demand
The Australian Industry Group/Housing Industry Association Australian Performance of Construction Index (Australian PCI®) dropped a further 1.9 points to 42.6 in December 2018, indicating a fourth consecutive month of decline and the sharpest rate of contraction in five and a half years (readings below 50…
Victoria’s construction sector leads a strong economy
Victoria’s building industry is among the strongest in the nation, with the Victorian Government’s sound financial management creating jobs and ensuring the state’s economy continues to grow.
Property industry confidence drop demands good policy decisions in 2019
Confidence in the Australian property industry has dropped to its lowest level in more than five years, highlighting the importance of good policy decisions in 2019 to sustain the growth of one of the main drivers for the Australian economy.
New home approvals fall to 5-year low
“New home approvals fell by 9.1 per cent in November 2017 to reach their lowest level since August 2013,” commented Diwa Hopkins, HIA Economist.
New land values for NSW released
The NSW Valuer General released the land values for every parcel of land across NSW. The land values are for the value of the land only, as at 1 July 2018.
Queensland’s building and construction industry set for further reform in 2019
Queensland Minister for Housing and Public Works, Mick de Brenni said that maintaining confidence in Queensland’s $46 billion a year industry was paramount in the wake of concerns raised over the structural integrity of NSW high rise apartment development, Opal.
New communities to ease housing demand and create jobs
The Victorian Government is boosting land supply and making housing more affordable, with two new communities in Melbourne’s north-west.
Slowing migration weighs on population growth
“Governments don’t need to cut migration, the economy is doing that task for them,” said Geordan Murray, HIA Senior Economist.
Housing credit squeeze prompts policy reset
“The removal of the restriction on interest-only lending is essential to addressing the concerning decline in credit growth for new housing,” said Tim Reardon, HIA Principal Economist.
APRA decision on interest-only lending
The Property Council of Australia has welcomed APRA’s announcement that it will remove its supervisory benchmark on interest-only residential mortgages.
Turning old clothes into high-end building materials
Researchers at UNSW Sydney have developed an effective process to turn old clothing and textiles into high-quality building products such as flat panels.