The announcement by the Liberal Opposition to introduce strict planning controls in Melbourne’s suburbs will limit the supply of housing to Victorians and has the potential to hurt housing affordability.
“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 volume of approvals for new detached houses is at its strongest in 15 years,” commented Shane Garrett, HIA’s 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 property industry is the biggest creator of jobs in communities right across New South Wales with 2,500 property jobs in the communities of Ryde and Canterbury-Bankstown at risk if the State Government bans new housing being delivered in these suburbs.
Award winning developer, Defence Housing Australia (DHA), turned the first sod at their new 1,100 lot residential development in Sydney’s growing north-west region.
The extraordinary decision by NSW Planning Minister Anthony Roberts to stop the supply of housing in Ryde and Canterbury-Bankstown less than two months after comprehensive plans were released demonstrating Sydney’s critical housing need will keep housing out of reach for the next generation of home owners.