“It is anticipated that almost 130,000 new detached homes will commence construction in 2021. The previous record of 120,000 starts in a calendar year was set in 2018,” stated HIA’s Chief Economist, Tim Reardon.
“ABS Building Approvals data for detached houses rose for the sixth consecutive month in December (2020), to reach the largest number of approvals since the series began in 1983,” stated HIA 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.
“In less than a year, the Australian Capital Territory managed to overtake Victoria, New South Wales, Queensland, South Australia and Tasmania to take out top spot in HIA’s Housing Scorecard Report,” stated HIA economist, Tom Devitt.
The success of the Federal Government’s HomeBuilder grants program demonstrates the power of residential construction in supporting jobs and driving economic activity.
“New Home Sales reached remarkable heights in December (2020), nearly doubling compared to the number of sales recorded in November (2020),” stated HIA’s Economist, Angela Lillicrap.
“The number of loans for the construction of a new dwelling rose for the sixth consecutive month in November to reach a new record,” stated HIA’s Economist, Angela Lillicrap.
“ABS Building Approvals data for detached houses rose for the fifth consecutive month in November to reach the highest number of approvals since December 1999,” stated HIA Economist, Angela Lillicrap.
“New Home Sales increased by a further 15.2 per in November to reach a decade high,” stated HIA’s Economist, Angela Lillicrap.
Territorians looking to realise their dream of building their own home in 2021 can access additional funding, with the Northern Territory Government announcing that the BuildBonus Grant has been extended.
