“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.
2021 to be a record year for detached home building - HIA
“It is anticipated that almost 130,000 new detached homes will commence construction in 2021. The previous record of 120,000 starts in a calendar year was set in 2018,” stated HIA’s Chief Economist, Tim Reardon.
Sales of new homes increase since same time last year
“The full impact of HomeBuilder is now evident in the HIA’s New Home Sales Report with sales now 11.8 per cent higher in the seven months since restrictions came into effect than at the same time last year,” commented HIA Chief Economist, Tim Reardon.
While the new Housebuilder package will help, the Housing Industry Association warns a sharper contraction in residential building activity is imminent.
