“The slide in home lending activity in September 2018 has taken the number of loans to owner-occupiers down to the lowest level that we’ve seen since 2013,” said HIA Acting Principal Economist, Geordan Murray.
The NSW Treasurer’s announcement of changes to the State’s stamp duty system is a much-needed structural reform which, over time, will help reduce the tax burden on people buying a home in NSW.
Several construction projects are underway at communities on Groote Eylandt and its neighbouring Bickerton Island.
“The indexation of Stamp Duty is a step forward in reducing the taxation imposts on housing,” stated Tim Reardon, HIA’s Principal Economist.
“The pace of increase in rents remains at its slowest in 25 years,” said Shane Garrett, Chief Economist of Master Builders Australia.
The number of dwellings approved in Australia fell by 1.9 per cent in September 2018 in trend terms, according to data released by the Australian Bureau of Statistics (ABS).
“The downturn in HIA New Home Sales paused in September 2018 following declines in the order of 3 per cent in each of the previous two months” commented HIA Economist, Diwa Hopkins.
The TCCI welcomed the new Macquarie Point Masterplan – which includes provision for residential development.
“First Home Buyer participation in Australia’s mortgage market is now at its healthiest since 2012,” said Shane Garrett, Chief Economist for Master Builders Australia.
“The $130 billion residential building industry is an efficient and productive industry that needs easy to understand and flexible employment conditions,” stated Melissa Adler, HIA’s Executive Director – Industrial Relations.