An advocacy agenda released by a coalition of industry bodies is calling on governments to make every building count in Australia’s economic recovery.
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.
“New data released by the Housing (Supply) Minister shows that the Federal Government’s First Home Loan Deposit Scheme is already helping millennials achieve their home ownership aspirations and giving a boost to regional areas,” said HIA Chief Executive Industry Policy, Kristin Brookfield.
“Residential land sales have increased by 45.9 per cent from their record low in the March 2019 quarter,” said HIA Economist, Angela Lillicrap.
“Today’s (February 17 2020) announcements that builders and homeowners will be able to easily access the Australian Standard for building in bushfire prone areas will help thousands of people impacted by the recent bushfires move through the rebuilding process a little more smoothly,” said Kristin Brookfield, HIA Chief Executive Industry Policy.