“The housing sector has already stepped back from its role driving the Australian economy and now is not the time for governments to hit the industry with punitive charges,” warned Tim Reardon, HIA’s Principal Economist.
Despite record levels of development activity, UDIA Victoria has warned the volume of dwelling commencements in the years to come will not be enough to sustain the high levels of demand for new housing.
Lending restrictions mean fewer projects will proceed to construction: JLL
Australian building completions are likely to remain strong in 2017, but softer prices and tighter lending mean a slower 2018, though conditions vary from city to city, says JLL.
Citi clamps down on lending in 'blackspot' suburbs
Citi will require a 35 per cent deposit for loans on all apartments built less than two years ago, and for any apartment on a list of 90 postcodes Australia-wide.
ABS data shows that the total value of building work approved in Queensland increased by 89 per cent to $2.4 billion in February 2017 (seasonally adjusted) compared with 12 months previously, the highest monthly result since 2011.
RBA governor says supply key to improving housing woes
Philip Lowe, governor of the RBA, last night said that increasing supply was the key to easing the housing crisis, but tighter lending rules help to put the economy on a more sustainable footing.
Denita Wawn, CEO of Master Builders Australia, says the senate's passing of the tax cut bill is good news for small builders, but she is calling on the government to lower taxes for larger businesses too.
