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12 month growth
Box Hill
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Mollymook
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Cleve
78.13%
Bawley Point
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75.57%
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70%
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Housing construction improves slightly

By Staff Reporter
16 December 2009 | 1 minute read

The government’s first home owner boost, together with very low variable mortgage rates, has helped to drive an increase in the percentage of detached housing starts.

According to figures from the Australian Bureau of Statistics (ABS), detached housing starts in the September quarter grew by 8.4 per cent.

But positive data aside, the Housing Industry Association’s senior economist Ben Phillips said housing starts were still only running at an annualised level of 136,328.

“That is substantially below the level required to meet the demands of a rapidly growing population. Of particular concern is that Australia’s fastest growing states – Queensland and Western Australia – are yet to see a housing recovery,” Mr Phillips said.

“HIA forecasts that commencements will continue to improve over this financial year with growth of at least 9 per cent expected in 2009/10.

Further recovery will be threatened by any lack of progress in reducing the considerable supply side obstacles to residential construction, including re-emerging land and labour shortages,” he said.

The number of housing starts in the September 2009 quarter grew by 6.9 per cent in New South Wales, 9.9 per cent in Tasmania, 53.8 per cent in the Northern Territory, and 23.6 per cent in the Australian Capital Territory.

Housing starts dropped by 2.7 per cent in Victoria, 9.4 per cent in Queensland, 13.1 per cent in South Australia, and 4 per cent in Western Australia.

Housing construction improves slightly
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Do you have an industry update?

top suburbs

12 month growth
Box Hill
127.02%
Mollymook
82.85%
Brightwaters
79.93%
Cleve
78.13%
Bawley Point
76.2%
Murrays Beach
75.57%
Terranora
70%
Crescent Head
69.38%
Park Ridge South
68.32%
Mollymook Beach
67.09%
SEE AREA REPORTS ON SMART PROPERTY INVESTMENT WEBSITE
Subscribe to Newsletter

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.