“The Government should establish an RBA-style Board to oversee APRA with a target for mortgage arrears of between 2 and 3 per cent,” said HIA Chief Economist, Tim Reardon.
Policy reset required to build 1.2 million homes - HIA
While social and affordable housing is crucial for supporting with home ownership, a balanced approach that also boosts private market housing is essential to address Australia’s broader housing crisis, says HIA Managing Director, Jocelyn Martin.
“Various segments of the housing market are increasingly active, with lending to first-home buyers, owner occupiers, and investors increasing in the first half of 2024,” stated HIA Economist, Maurice Tapang.
HIA Senior Economist Nicholas Ward states “Detached house approvals continue to be elevated compared to pre-COVID levels, meaning projects underway and new work entering the pipeline will continue to keep home builders busy into 2023".
Building approvals fell 3.1 per cent in March - HIA
The Australian Bureau of Statistics today released its monthly building approvals data for March for detached houses and multi-units covering all states and territories.
Detached home building to remain strong throughout 2022 - HIA
“Demand for new detached and multi-unit housing has remained strong, suggesting that the current boom in home building will be sustained throughout 2022,” stated HIA Chief Economist, Tim Reardon.
The HIA New Home Sales report – a monthly survey of the largest volume home builders in the five largest states – is a leading indicator of future detached home construction.
Cost of blocks of land rise twice as fast as building materials - HIA
“The cost of residential land has risen more than twice as fast as the cost of building materials over the past year,” said HIA Chief Economist, Tim Reardon.
