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.
New home sales fell by 14.9 per cent in the final quarter of last year, dropping to their lowest level in seven years, according to the Housing Industry Association of Australia (HIA).
Approvals for semi-detached housing at 20-year highs
In the year to August, over 15 per cent of new homes approved were semi-detached homes – the highest proportion in 20 years, according to Craig James, chief economist CommSec.
"Calendar year 2016 will be a record year for new dwelling commencements, but the situation could look very different from next year,” says HIA Chief Economist, Dr Harley Dale.
