“The fall in overseas migration that we have seen for the past 18 months has eased in the most recent quarter,” stated Tim Reardon, HIA’s Chief Economist.
“The price of land for new residential building has continued to rise despite a fall in demand,” said HIA Chief Economist Tim Reardon.
“Today’s (March 8 2019) commitment by the Hon Kelly O’Dwyer, Minister for Jobs and Industrial Relations and Minister for Women to provide $675,000 in funding for mentoring and promoting the participation of young women in the building industry, is a positive step,” said HIA’s Chief Executive Industry Policy, Kristin Brookfield.
Both major parties need to re-commit to policy agendas for economic growth following the worse than expected performance by the Australian economy in the closing months of last year (2018),” said Denita Wawn, CEO of Master Builders Australia.
“The number of approvals for new home building started 2019 on a positive note with an increase of 2.5% during January (2019) in seasonally-adjusted terms,” according to Master Builders Australia’s Chief Economist Shane Garrett.
The Australian Industry Group/Housing Industry Association Australian Performance of Construction Index (Australian PCI®) increased by 0.7 points to 43.8 in February 2019, indicating a slightly slower rate of decline for the construction industry on aggregate (readings below 50 indicate contraction in activity, with the distance from 50 indicating the strength of the decrease).
“The decline in expenditure on residential building became a stronger headwind for economic growth in the final quarter of 2018,” said Geordan Murray, HIA Senior Economist.
More than 200 local jobs, extra flights and greater tourism activity are expected to flow from a $50 million investment in Townsville Airport by the Australian Government.
The February 2019 edition of The Fence magazine is out now!
“Building approvals rose in January (2019) offsetting some of the significant drop experienced in December 2018 as the impact of the credit squeeze continued to affect the housing market,” said Tim Reardon, HIA’s Chief Economist.