“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.
The value of farm production is forecast to fall by 5 per cent in 2019–20 to $59 billion, according to the latest Agricultural Commodities report.
“The cost of land is one of the main components in determining the price of a new home,” said HIA Economist Angela Lillicrap.
“The amount of commercial building approval surged during August (2019) to record its strongest ever monthly performance,” Master Builders Chief Economist Shane Garrett said.
After recording the largest losses during the recent housing market downturn, the premium end of Sydney and Melbourne’s housing market is driving the rebound in capital gains.
“The easing of wider economic and housing market conditions has given rise to a situation where monetary and fiscal stimulus is possible, without fear of overheating house prices,” stated HIA’s Chief Economist, Tim Reardon.
“Infrastructure Australia’s audit points both to successes and shortcomings in the approaches to Australia’s economic and social infrastructure. Notwithstanding the impressive current pipeline of projects, the Audit points to the need for further investment, more farsighted planning and better coordination,” Ai Group Chief Executive, Innes Willox, said.
Master Builders welcomes the agreement by State and Territory Building Ministers to work with the Federal Government on a consistent Australia-wide approach to implementation of the Shergold-Weir Report recommendations.
“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.
BlueScope is committed to continuous improvement, as highlighted in its latest Sustainability Report.