New home building and renovation booms will keep Australia's already stretched home builders busy until at least June 2023 states HIA Economist Tom Devitt.
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.
Easing of restrictions for home building a welcome relief: HIA
HIA welcomes the Victorian Government’s announcement that there will be an early easing of restrictions for all construction sites, including home building and renovation sites, from this Friday.
Building shutdown disappointing and challenging says HIA
The HIA says the decision by the Victorian Government to shutdown all building sites in Melbourne and certain municipalities for the next two weeks is both disappointing and challenging for the residential building industry.
Record quarter for detached home construction in June - HIA
“Figures released by the ABS show the value of work done on detached houses surged in the June quarter to reach the highest level on record, exceeding the previous record set in March,” said Angela Lillicrap, HIA Economist.
“The number of land sales in the March 2021 quarter declined by 31.2 per cent compared to the previous quarter, to be 42.5 per cent lower than the previous peak in the September 2020 quarter,” said HIA Economist, Angela Lillicrap.
