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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The RBA’s decision to lower official interest rates by 0.25 percentage points is welcome news, although a 50 point reduction was surely justified.
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New Home Sales got off to a poor start in the 2008/09 financial year.
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HIA confirmed today that an interest reduction of 0.5 per cent would save a first home buyer (for a typical first home loan) $101 per month.
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HIA, Australia’s largest building industry association, today released the nation’s most comprehensive report card on the residential sector.
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First home buyer housing affordability barely improved in June, languishing at a 24 year low. The HIA-CBA First Home Buyer Affordability Index inched up by just 0.3 per cent during the June 2008 quarter to still be 6 per cent lower than a year earlier.
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The national construction industry contracted for a fifth consecutive month in July, although it had strong support from an increase in engineering construction activity and some encouraging, albeit modest, improvement in commercial construction. The Australian Industry Group – Housing Industry Association Performance of Construction Index (Australian PCI®) registered 41.6, remaining below the critical 50.0 points level separating expansion from contraction.
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HIA, Australia’s largest building industry association, said that home lending for both owner occupiers and investors continued to slide in June.
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In a slowing economy, the RBA’s decision not to lower official interest rates is disappointing.
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