With Melbourne's population expected to grow by 100,000 new residents every year, the changes allow for greater density in the city's middle-ring suburbs, says Joseph Walton of the REIV.
The Reserve Bank of Australia left the official cash rate at 1.50 per cent but credit conditions have tightened for investors over recent months, and owner occupiers are wary about rates as the banks move unilaterally, says Shane Garrett of the HIA.
Australia’s economy contracted during the September 2016 quarter, only the third decline in the last decade, due in part to a decline in construction activity.
The government’s legislation to reinstate the ABCC and bring back industry specific penalties and sanctions will return the rule of law to the construction industry, says the Housing Industry Association.
The number of construction loans and loans to households purchasing new homes is slightly below peak levels recorded in late 2015 and early 2016 and is consistent with high levels of new home building, says HIA Economist, Geordan Murray.
