“The rejuvenation in the housing market has continued following the three interest rate cuts this year (2019) with lending for the purchase of a home rising 7.4 per cent for the September (2019) quarter,” stated HIA Economist, Angela Lillicrap.
Now that the dust has settled after the 2019 Federal election and parties review their policies going into 2020, one thing that must change is the attack on capital gains tax and negative gearing, HIA Managing Director Graham Wolfe said.
The Australian Industry Group/Housing Industry Association Australian Performance of Construction Index (Australian PCI®) climbed 1.3 points to 43.9 in October (2019), indicating a slight easing in the construction industry’s overall rate of contraction (readings below 50 indicate contraction in activity, with the distance from 50 indicating the strength of the decrease).
“Building approvals rebounded for the month of September (2019), increasing by 7.6 per cent compared to the previous month but remain well below levels experienced in recent years,” stated HIA Chief Economist Tim Reardon.
“The cuts to interest rates have more than offset the rise in home prices to ensure an ongoing improvement in housing affordability,” stated Tim Reardon, HIA’s Chief Economist.
“New home sales bounced back in September (2019) to return to levels seen during the latter half of 2018,” stated HIA Economist, Angela Lillicrap.
Mining companies that can demonstrate a commitment to engaging with Traditional Owners and boosting local jobs will be favoured in a major release of ground for gold exploration by the Victorian Government.
The high uptake of Allison AutomaticsTM, the only fully automatic transmission option, in Hino’s medium-duty trucks sold in Australia exemplifies the changing truck market and the need to satisfy the demands of fleets operating largely in the increasingly busy urban areas.
The Housing Industry Association (HIA) has supported the Federal Government’s on-going focus on Australia’s Vocational Education and Training (VET) sector, which sits at the foreground of developing Australia’s future skilled workforce.
There will be a new inquiry into the insolvency system, to investigate if current insolvency practices achieve the best possible outcome for small and family businesses in financial trouble.