The September 2021 edition of THE FENCE magazine is out now!
“Sales of new detached homes appears to have stabilised following the end of HomeBuilder at elevated levels,” stated HIA Economist Angela Lillicrap.
The Australian Industry Group/Housing Industry Association Australian Performance of Construction Index (Australian PCI®) increased by 4.3 points to 57.6 in October, indicating a strong pace of recovery following the sharp fall in August due to COVID-19 restrictions (readings above 50 indicate expansion in activity, with higher results indicating a stronger pace of expansion).
The Australian Industry Group Australian Performance of Manufacturing Index (Australian PMI®) eased by 0.8 points to 50.4 in October – a fourth consecutive month of deceleration and the weakest monthly result for the index since September 2020 (readings above 50 points indicate expansion in activity, with higher results indicating a faster rate of expansion).
“The cost of residential land has risen more than twice as fast as the cost of building materials over the past year,” said HIA Chief Economist, Tim Reardon.
“The reopening of renovations in occupied homes ahead of schedule will provide a much needed boost to the residential building industry and help many families who have been waiting for their home renovations projects to either commence or resume,” said HIA’s Victorian Executive Director, Fiona Nield.
Leading Australian energy infrastructure business, APA Group, welcomes the release of the NSW Government’s Hydrogen Strategy.
With South Australia’s construction industry booming and hungry for additional apprentices, an all-female Try A Trade program is being held at TAFE SA’s Tonsley Campus to give participants the chance to explore trades traditionally dominated by males.
“Today’s (October 13 2021) data from the Australian Bureau of Statistics confirms the size of the HomeBuilder boom, with more detached house commencements than in any previous quarter or year on record,” stated HIA Economist Tom Devitt.
“Sales of new detached houses increased by 2.3 per cent in September compared to the previous month,” stated HIA Economist Tom Devitt.