HIA, Australia’s largest building association says the Australian Bureau of Statistics House Price Index for the September Quarter confirms house prices remained relatively flat during the period.
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The latest New Home Sales Report from HIA, Australia’s largest building association, shows that sales volumes failed to rebound following the first interest rate cut of the easing cycle.
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The HIA-CBA First Home Buyer Affordability Index improved by 3 per cent in the September 2008 quarter with a 1.9 per cent easing in house prices offsetting a net increase in borrowing costs over the quarter. The index nevertheless remained at near record lows at a level 1.1 per cent below that of the September 2007 quarter.
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HIA, Australia’s largest building association has applauded the pro-active decision of the Federal Government to triple the First Home Owners Grant (FHOG), saying that the measure was necessary to save jobs in the residential construction and manufacturing industry.
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HIA, Australia’s largest building association has welcomed the decision to triple the First Home Owners Grant (FHOG) for purchases of new housing. The measure will stimulate business activity and help address the severe housing shortage.
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The Housing Industry Association’s inaugural Business Expectations Report, launched today, provided vindication for the large interest cut announced by the Reserve Bank of Australia on Tuesday.
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HIA, Australia’s largest building industry association, said that further reductions in interest rates should put a floor under the very weak home lending figures evident for 2008 to date.
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The HIA, Australia’s largest building industry association, says that falling interest rates over the next 12 months may provide some assistance in pegging the gap between underlying and effective demand for housing.
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HIA, Australia’s largest building industry association, said that a general weakness in leading housing indicators was persisting into the second half of 2008.
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The latest New Home Sales Report from HIA, Australia’s largest building association, highlights the on-going weakness in new residential construction already evident well before the latest deterioration in global financial conditions and confidence.
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Australia’s latest population reading shows that in the first quarter of 2008 the Australian population grew by a record 102,000, higher than any previous reading. Over the 12 months to March, Australia grew at a record 336,800 or 1.6 per cent.
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Australia’s largest building industry association, the Housing Industry Association, has highlighted the need for state, territory and the federal government to address challenges faced in public housing at the next meeting of CoAG.
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Housing starts fell for the second consecutive quarter in June.
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Australia’s biggest residential building association was delighted to launch the Housing Affordability Fund (HAF) today with the Prime Minister the Hon. Kevin Rudd and Federal Minister for Housing the Hon. Tanya Plibersek.
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HIA, Australia’s largest building industry association, said that home lending fell for the sixth consecutive month in July, highlighting the urgent need for further interest rate cuts.
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