“The number of loans to owner occupiers for established homes fell by 9.1 per cent during May 2020 to the lowest monthly level on record,” commented HIA Chief Economist, Tim Reardon.
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HIA welcomes the release of crucial final touches to the Federal Government’s HomeBuilder scheme. “The addition of this extra detail will clarify questions builders and home buyers have been asking since the scheme was announced on 4 June (2020),” said Kristin Brookfield, HIA Chief Executive Industry Policy.
There is some confusion among strata mangers about responsibilities on fixing building defects.
Here is a reminder about the strata building bond and inspections scheme, which started on 1 January 2018.
“New home sales have fallen in each of the three months since the introduction of COVID-19 restrictions. This will flow through to a reduction in the volume of work on the ground in the second half of this year,” stated HIA’s Chief Economist, Tim Reardon.
“The number of loans to owner occupiers for established homes fell by 6.3 per cent during April 2020,” commented HIA Chief Economist, Tim Reardon.
“Building approvals data released today (June 3 2020) by the ABS relates to projects lodged with local councils well before the impact of COVID 19 conditions,” stated HIA Chief Economist, Tim Reardon.
New forecasts say new home building will fall by almost 50 per cent, putting half a million jobs at risk over the next year, said HIA.