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{{propApi.successMessage}} {{region}} Change locationSA President's report
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Peter McIndoe
HIA South Australia President
I wanted to use the final message for this year to reflect on what we as an industry has achieved and remind you of the challenges that we have ahead of us in 2024.
The RBA increased interest rates 5 times in 2023, the last on Melbourne Cup Day. That 0.25% increase saw rates rise by a total of 1.25 per cent, to bringing the cash rate to 4.35 per cent , the highest rate in 12 years. All this to put the inflation genie back in the bottle, who it seems is not keen to go back in.
As an industry, we have seen the impact these rate rises have had on customers ability to secure finance. The most recent homes sales volume report revealing sales across South Australia had fallen 20.1 per cent in the three months to October.
That is our reality and we have work with it, which means working a little harder and lot smarter which is nothing new because that’s what we have had to do all year.
I would like to take this opportunity to thank all our HIA committee members for their dedication and hard work this year.
Also, a shout out to Stephen Knight for his tireless efforts working with our members and his engagement with government which has delivered us a number of wins especially when it comes to the delay of the introduction for the NCC 2022 and energy efficiency.
October 1st 2024 our industry will need to meet the commitments of the NCC’s Liveable Housing Design Standards, I encourage you to become familiar with these changes. Any questions please contact the HIA office. Stephen has also worked his magic here with a number of exemptions being granted by the state government for Liveable Housing.
Finally on behalf of the committee I would like to take this opportunity to wish you a Merry Christmas and a Happy New Year. Take some time during the Christmas break to rest up and spend time with your loved ones and I’ll see you in January refreshed and ready to take on the challenges of 2024.