“The number of loans for the construction of a new dwelling rose for the seventh consecutive month and reached a new record in January (2021),” stated HIA’s Economist, Angela Lillicrap.
“Demand for residential land jumped by 27.7 per cent in the September 2020 quarter to be 62.7 per cent higher than at the same time last year, reflecting the surge in demand following the announcement of HomeBuilder in June,” said HIA Economist, Angela Lillicrap.
The Property Council of Australia has strongly welcomed the Federal Government’s response to the interim report into Australia’s environmental protection legislation.
Price rises in Sydney and Melbourne drove a 3.9 per cent rise in residential property prices in the December quarter 2019, according to figures released by the Australian Bureau of Statistics (ABS).
“The Australian population continued to slow in the September 2019 quarter, driven by a reduction in overseas migration,” stated Tim Reardon, HIA’s Chief Economist.
The Federal Government’s economic stimulus package will provide welcome support for Australian businesses and households, but there are still significant challenges ahead as governments manage the public health response to the coronavirus outbreak.
The Victorian Government is providing a vital helping hand to first home buyers struggling to enter the property market, with more than 250 properties purchased since the launch of the HomesVic shared equity scheme.
The 2020 Infrastructure Priority List reveals the scale of the challenge for Australian governments in addressing emerging and enduring infrastructure needs.
“Despite the housing market cooling during 2019, demand for skilled trades workers remains strong, with demand in Sydney, Melbourne and Brisbane exceeding availability,” said HIA Economist, Angela Lillicrap.