realestatebusiness logo
Subscribe to our newsletter SIGN UP

Building activity up 9pc

03 August 2009 Reporter

The government’s boost to the first home owner grant (FHOG) teamed with the lowest official interest rate in half a century have sparked first home buyers activity, with home building approvals rising by more than 9 per cent in June.

According to the Australian Bureau of Statistics (ABS), the rise represents the greatest increase in four years.

The number of permits granted to build or renovate houses and apartments increased 9.3 percent from May, when they fell a revised 11 percent, the ABS said.

Overall, building approvals were still 14.3 per cent down on June last year, however, industry forecasters had predicted an 18.2 per cent drop.

Building activity up 9pc
lawyersweekly logo
Recommended by Spike Native Network
Listen to other installment of the Real Estate Business Podcast

Where is the biggest threat to agents in 2019?

3rd party lead generation companies
DIY models discounting sales commission
Prop-tech firms cutting out the agent value proposition
A yet unidentified proper disruptor – like Uber or Airbnb
None of the above. There is no threat.
Do you have an industry update?
Ensure you never miss an issue of the Real Estate Business Bulletin. Enter your email to receive the latest real estate advice and tools to help you sell.