More than 70% of Australians still consider property ownership to be the Great Australian Dream, new data has found.
Australia’s new Infrastructure Audit is a clarion call for the need to keep investing in infrastructure to support the economic and social transformation of our major cities.
“Building approvals in 2018/19 were 19.5 per cent lower than in the preceding year, making this the most significant market correction since the introduction of the GST,” stated HIA Chief Economist Tim Reardon.
The Property Council of Australia has welcomed today’s (July 18 2019) agreement by Commonwealth, State and Territory building ministers on a national approach to implementation of reforms which will lead to better enforcement and compliance with building standards and regulation.
“Home lending figures released by the ABS today (July 11 2019) show the number of loans to households building new homes grew modestly in May (2019),” said HIA’s Senior Economist, Geordan Murray.
“The combination of lower home prices, improvements in wage growth and lower interest rates have contributed to the ongoing improvement in the HIA Affordability Index for the June 2019 quarter,” said Geordan Murray, HIA Senior Economist.
The number of dwellings approved in Australia fell by 0.5 per cent in May 2019, in trend terms, according to data released by the Australian Bureau of Statistics (ABS).
Following the federal election, and before the Queensland Budget was handed down, the property industry’s sentiment increased on both a national and state level, according to the latest ANZ/Property Council Survey.
Property market confidence in Victoria has rebounded for the first time in four quarters according to the ANZ/Property Council Confidence Survey released.
The Property Council WA has declared West Australian home buyers the winners in the wake of a State Government commitment not to add to the cost of building homes in METRONET precincts.