Toggle Menu Header



Property Enthusiast,

Federal government's HomeBuilder scheme continues to boost Australia's building activity

10Mo ago 0 Replies 149 Views
Over the three months to October, detached-housing approvals increased by 18.6%, with all states and territories reporting gains except for the Australian Capital Territory. On an annual basis, approvals for detached homes during the three-month period were 23.2% higher.

Western Australia reported the biggest improvement during the period, with detached housing approvals in the state rising by 62.8% from last year. Queensland and the Northern Territory also registered a surge in detached dwelling approvals.

“Slower population growth, particularly in Sydney and Melbourne, and an increased preference for detached houses, will likely see demand for apartments constrained going into 2021,” she said.
Overall, the total number of dwellings approved increased by 3.8% on a monthly basis. This growth was driven by large increases in New South Wales (32.1%) and Western Australia (29.7%).

Continue reading at:

Share on:
Tags: Federal

Related Posts

NSW: The Federal Government needs to provide more help to the housing industry

Managing the housing delivery systems as we come out of the pandemic will require a better grasp of policy impacts if Australia is not going to fail residents in their goals across the cities and regions. Our system of local, state and federal governments presents the biggest challenge. A recent study by the Australian Housing and Urban Research Institute (AHURI) noted the assignment of policy responsibilities and functions within a geographically large federal system must take into account the functional nature of our systems. The Federal Government seems content to bask in the glory of the numbers who take up their housing initiatives. Federal Housing Minister Michael Sukkar boasts about the take-up of the first homebuyer low deposit scheme, along with the HomeBuilder scheme, but without any subsequent advised oversight and review of what is a dynamic but fraught marketplace. Continue reading at: x Government support needed on all levels if propert... OPINION: Managing the housing delivery systems as we come out of the pandemic will require a better grasp of policy impacts if Australia is not going to fail residents.
2Mo ago 294 Views

The federal government's HomeBuilder scheme continues to drive dwelling approval levels to a new record high

Approvals for private-sector houses increased by 15.1% in February, which translated to 13,939 homes. Over the year, approvals for the construction of new homes were up by 57.5%. "This is the highest level on record since the ABS began the series in 1983 and exceeds the previous record in December last year," said Michael Sukkar, minister for housing. Despite the COVID-19 pandemic, new home sales increased by 32.5% over the past year. Activity from first-home buyers increased the past year, comprising 50% of overall activity in the housing market. Based on the federal government's estimates, the HomeBuilder scheme is expected to support up to $18bn worth of residential construction projects. Source: x HomeBuilder pushes approvals to new heights The positive impacts of HomeBuilder are also apparent in other key housing metrics
6Mo ago 86 Views

Is Federal a safe suburb?

11Mo ago 93 Views

NSW: First homebuyers in Western Australia have been the big winners from the federal government’s HomeBuilder scheme

First homebuyers in Western Australia have been the big winners from the federal government’s HomeBuilder scheme, but the impact has been muted in the other major states. Sales data from the Housing Industry Association revealed new home sales over the seven months since the pandemic started were 11.8 per cent higher nationally than over the same period last year. New home sales in Western Australia over the seven months to September were nearly double the corresponding period in 2019, while in Queensland the increase was about 7 per cent. NSW sales increased about 3 per cent, while in South Australia it was 0.5 per cent. The price caps may explain the different levels of uptake in various states, considering there were fewer new homes available for under that price in NSW and Victoria. The majority of new Sydney homes priced under $750, 000 were apartments more than 20km from the CBD or were house and land packages at least 40km from the CBD. Get details at: x Western Australia gets biggest boost from HomeBuil... The federal government’s $25, 000 cashback for buyers of new homes stimulated first homebuyer activity in some states but had a muted response in others, new research shows.

The federal government's HomeBuilder scheme has started to benefit the housing market

Approvals for houses increased by 4.8% in August, extending the 8.6% growth recorded in the previous month. On the other hand, approval for units and apartments fell sharply by 11%, dragging the overall dwelling approval to a 1.6% decline. 'The August results indicate increasing demand for detached housing following the relaxation of restrictions in most states and territories. However, approvals for apartments remain weak, at near eight-year lows, ' said Daniel Rossi, director of construction statistics at ABS. The growth in approvals for detached housing reflects the positive impacts of the HomeBuilder scheme, said Angela Lillicrap, an economist at the Housing Industry Association. This was evident in Western Australia, which, after years of decline, showed a 32.9% increase in approvals. Continue reading at: x HomeBuilder boosts house approvals The uptrend in detached dwelling approvals is evident in two states

Master Builders Australia is urging the federal government to extend the HomeBuilder scheme

Denita Wawn, CEO of Master Builders Australia, said while the HomeBuilder scheme is considered the 'most effective government stimulus measure' in the decade, the federal government needs to include its extension in the pre-budget submission. In fact, despite the 'success' of the scheme so far, Master Builders projections show a 27% fall in homebuilding activity for the financial year 2020-2021. 'The federal government showed its commitment to builders and tradies when it announced HomeBuilder Mark I, and they must be given credit for that. They should now double down to secure to further jobs by including HomeBuilder Mark II in the October budget, ' she said. Get details at: x Why HomeBuilder needs to be extended Builders are also calling for a CommunityBuilder grant, which would further help the construction industry
19 online
Cat Chui
Jo Pendleton
apr infra
Redemta Raphael
and more ...