NSW Planning & Public Spaces Minister Rob Stokes should be commended for his decision to bring in new rules to allow construction sites to operate on weekends and public holidays during the COVID-19 pandemic, said David Bare Executive Director of HIA NSW.
Price rises in Sydney and Melbourne drove a 3.9 per cent rise in residential property prices in the December quarter 2019, according to figures released by the Australian Bureau of Statistics (ABS).
The AWU and Master Builders Australia are jointly calling on governments to ensure the building and construction industry continues to operate, because without it the economic knock-on effects would be devastating on a scale that would dwarf what we have seen to date.
The Government’s $17.6 billion stimulus package should bolster economic resilience in the face of the current challenge.
“As the Australian government looks to respond to the current global financial uncertainty and identify appropriate policies and stimulus measures to enact, the residential building industry should be one of the most supported,” said HIA Chief Executive Industry Policy, Kristin Brookfield.
The 2020 Infrastructure Priority List reveals the scale of the challenge for Australian governments in addressing emerging and enduring infrastructure needs.
“Residential building continued to contract in the final quarter of 2019, weighing on overall economic growth,” said Diwa Hopkins, HIA Senior Economist.
The Australian Industry Group/Housing Industry Association Australian Performance of Construction Index (Australian PCI®) increased by 1.4 points to 42.7 in February 2020, with further improvement in house building activity contributing to the industry’s milder rate of decline this month (readings below 50 indicate contraction in activity, with the distance from 50 indicating the strength of […]
“Building approvals in the three months to January 2020 increased by 4.9 per cent compared to the previous three months but remain 2.3 per cent lower than the same time last year (2019),” stated HIA Economist, Angela Lillicrap.
“The credit squeeze and its impact on home building weighed heavily on Australia’s economy in 2019,” commented HIA Senior Economist, Diwa Hopkins.