“Housing finance figures released today ( September 9 2020) show that lending for the construction of a new home rose in July (2020) for the first time since February (2020), to the highest level in two years,” stated HIA’s Chief Economist, Tim Reardon.
Today’s (31 August 2020) report from the National Housing Finance and Investment Corporation (NFHIC) outlines the initial success of the first release of 10,000 guarantees under the First Home Loan Deposit Scheme.
“The HIA-Housing Affordability Index for the June (2020) quarter 2020 shows housing in Australia remains at its most affordable since 1999,” state Tim Reardon, HIA’s Chief Economist.
The Victorian Government is helping more people buy their dream home, with thousands of first home buyers spared millions of dollars in stamp duty costs over the past financial year.
“With two months of data since the introduction of the Australian Government’s HomeBuilder scheme it is increasingly clear that HomeBuilder has arrested the decline in New Home Sales and will protect jobs in the sector into 2021,” commented HIA Chief Economist, Tim Reardon.
“The Queensland residential building industry remains on track to experience a significant downturn in building activity in the fourth quarter of the year,” says HIA Queensland Executive Director Mike Roberts.
The Property Council of Australia has warmly welcomed the NSW Government’s package of measures to help provide more and better housing choices for people who rent by boosting the growth of the ‘build-to-rent’ sector.
“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.
The Thodey Report provides a welcome perspective on options to overhaul federal-state financial relations and tax reform, but limits the prospect of meaningful reform by ruling out an enhanced GST as the mechanism to remove stamp duty and therefore boost the economy.
Say goodbye to that gap in the fence that the neighbours can see through.