Australia is about to experience a ‘silver tsunami’ with the population aged over 65 growing at a rate never seen before.
“The NSW Government is to be commended on funding 100,000 fee-free apprenticeships over the next four years,” said HIA Executive Director NSW, David Bare.
The latest Housing Finance data from the ABS shows a fall in the number of dwelling commitments across all major sectors, with the value of total new financial commitments dropping slightly by 0.2%.
“The value of housing loans to investors has hit its lowest level since the start of 2016,” commented HIA’s Principal Economist, Tim Reardon.
“Melbourne has dominated 2018’s HIA Hotspots Report, with 12 of Australia’s Top 20 building growth areas all located around Victoria’s capital,” said HIA’s Senior Economist, Shane Garrett.
“New house sales fell in each of Australia’s five largest states during April 2018, but remain at elevated levels,” said Tim Reardon, HIA’s Principal Economist.
The Tasmanian Government’s recent announcement that it will extend the $20,000 grant to first home owners has been welcomed by HIA.
“The short term outlook for new home building in Australia has improved significantly as a result of very healthy conditions in the jobs market and robust population growth,” stated Shane Garrett, HIA Senior Economist.
WA Housing Minister Peter Tinley has announced a once-in-a-generation partnership between the Department of Communities and Peet Brabham Pty Ltd that is set to change the face of Perth’s urban development.
The March 2018 housing finance figures released by the Australian Bureau of Statistics show that the number of loans for housing has continued to decline over the last six months, according to the Real Estate Institute of Australia(REIA).