“Despite the housing market cooling during 2019, demand for skilled trades workers remains strong, with demand in Sydney, Melbourne and Brisbane exceeding availability,” said HIA Economist, Angela Lillicrap.
“New data released by the Housing (Supply) Minister shows that the Federal Government’s First Home Loan Deposit Scheme is already helping millennials achieve their home ownership aspirations and giving a boost to regional areas,” said HIA Chief Executive Industry Policy, Kristin Brookfield.
“Residential land sales have increased by 45.9 per cent from their record low in the March 2019 quarter,” said HIA Economist, Angela Lillicrap.
“Lending to first home buyers increased by 6.2 per cent in the month of December 2019 to be up by 3.6 per cent for the quarter. This is the highest number of first home buyer loans since December 2009,” said Angela Lillicrap, HIA Economist.
“While we saw confidence in the broader housing market improve markedly during the second half of 2019, today’s (January 15 2020) building activity data shows that new home starts during the September (2019) quarter continued to retreat,” said Geordan Murray, HIA Senior Economist.
“Lending to households building and purchasing new homes remained soft in November (2019) despite the steady improvement in the broader housing market during the latter half of 2019,” said Geordan Murray, HIA Senior Economist.
Say goodbye to that gap in the fence that the neighbours can see through.
“Building approvals in November (2019) reached their highest level since March 2019, up by 11.8 per cent due predominantly to a surge in approvals in New South Wales,” stated HIA Economist Tom Devitt.
“Housing data is continuing to show that a low point was reached in April to May 2019, with a small improvement in the volume of new work entering the pipeline over the rest of 2019,” stated Tim Reardon, HIA’s Chief Economist.
The announcement that 27 lenders have now been endorsed to participate in the First Home Loan Deposit Scheme is the next important step in the lead up to the Scheme starting on 1 January 2020.