Ensure you never miss an issue of the
real estate business bulletin
New housing recovery continues: HIA

New housing recovery continues: HIA

by Reporter 0 comments

Housing data released by the Australian Bureau of Statistics (ABS) shows a recovery in new home building, according to the Housing Industry Association (HIA).


Despite a two per cent decline in the September 2013 quarter, the 12 months to September showed a steady recovery, with 163,250 new homes commenced, according to HIA chief economist Doctor Harley Dale.

“Looking past the spike in activity due to the GFC-related stimulus, that is the strongest level recorded since 2004,” he said.

The overall recovery in new dwelling commencements is being driven by NSW and Western Australia, with Queensland also now showing clear signs of improvement.

According to Dr Dale, the recovery primarily comprises 'other dwellings', such as multi-units rather than detached housing.

“Both segments are growing, but annual commencements for detached houses are nine per cent below their 20-year average, while commencements of multi-units are running 35 per cent above their 20-year average,” he said.

“This compositional change has an influence on the extent of the boost that domestic manufacturers and retailers will experience from the new home building recovery,” Dr Dale added.

“Overall, the upward trajectory in new dwelling commencements is still clearly a positive factor for the broader domestic economy.”

New housing recovery continues: HIA
lawyersweekly logo
promoted content
Recommended by Spike Native Network
Listen to other installment of the Real Estate Business Podcast
reb top 100 agents 2017

The REB Top 100 Agents ranking is the foremost ranking of agents in Australia. It has set the bar for excellence in Australian real estate. To be ranked as an REB Top 100 Agent is the standard real estate professionals strive for. See the full 2018 ranking here!

featured podcast

featured podcast
The difference between an average agent and one who dominates

McGrath Crows Nest’s Peter Chauncy is number 10 in this year’s REB Top 100 Agents ranking. Peter, however, is more likely not surprised ...

View all podcasts

Would you consider working for Purplebricks or a similar 'DIY' model?

Yes (7.2%)
No (80.9%)
Perhaps - make me an offer (12%)

Total votes: 209
The voting for this poll has ended on: July 13, 2018
Do you have an industry update?