Pipeline of new housing stock remains strong

Pipeline of new housing stock remains strong

Home building
08 February 2016 by Staff Reporter 0 comments

The number of building approvals exceeded 230,000 last year, allowing for a strong finish to 2015.

There were 18,868 building approvals issued in the final month of 2015, according to the latest data from the Australian Bureau of Statistics.

That was 9.2 per cent higher than the November 2015 result, but 2.5 per cent lower than December 2014.

Approvals for private sector houses reached 9,868 – up 5.4 per cent on the month and 4.5 per cent on the year.

There were also 8,839 approvals for private sector dwellings excluding houses, which represented a monthly increase of 12.8 per cent but an annual decrease of 6.5 per cent.

In total, 232,078 building approvals were issued in 2015, with nearly 80 per cent coming from NSW, Victoria and Queensland.

Master Builders Australia chief executive Wilhelm Harnisch predicts 2016 is also likely to be a good year for residential construction.

“The December building approval data confirms that confidence among new home buyers and investors remains strong, underpinned by the continuation of low official interest rates,” Mr Harnisch said.

“The industry expects new house building activity to remain buoyant for the rest of 2016, particularly if interest rates stay at the current low settings.”

[Related: Home building hits record high]

promoted content
Recommended by Spike Native Network
Listen to other installment of the Real Estate Business Podcast
reb top 100 agents 2016

With a combined sales volume of $13 billion in 2016, the Top 100 Agents ranking represents the very best sales agents in Australia. Find out what sets them apart and learn their secrets to success.

featured podcast

featured podcast
At the top of his game: how this agent evolves to stay number one

Get up close and personal with the best real estate sales agents in Australia in Secrets of the Top 100 Agents. ...

View all podcasts

Are dodgy agents being punished enough?

Yes (8.6%)
No (55%)
Only in some states (2.3%)
Not all dodgy agents are being found out (34.1%)

Total votes: 220
The voting for this poll has ended on: April 15, 2017
upcoming events
REB Awards
Sydney The Event Centre 12 Sep
REB Awards
Sydney The Event Centre 12 Sep
Melbourne The Event Centre 14 Oct
Brisbane The Event Centre 18 Dec
View all events
Do you have an industry update?