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{{propApi.successMessage}} {{region}} Change locationSA President's report
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Peter McIndoe
HIA South Australia President
The industry has also faced the headwinds of 5 interest rate rises across 2023 and most experts don’t see rates dropping anytime soon. With these challenges our industry has consolidated and delivered more homes for South Australians. In fact, we boasted a 17.9 per cent jump in house commencements in the September quarter with positive signs for the December quarter according to the last HIA Outlook report.
Forecasts tell us a decline is housing starts is coming and we should prepare now for these challenges. The HIA team lead by Regional Director Stephen Knight is here to help with a range of advice and services.
As I look ahead into 2024, we face the challenge of the July 1 ban on engineered stone. It has been incredibly frustrating that this decision was made with little consideration to the impact on the industry and the customer.
More will be known about the transition period when the collective ministers meet in March. I hope they have taken on board the feedback we have provided at a state level. Our industry will also formally adopt the NCC 2022 changes on 1 October 2024, again our team here in South Australia can provide members with advice and insights on these changes.
So, as you can see, we have an interesting year ahead of us.
Since my last report, the residential construction sector in SA has almost left behind the consequences of the unprecedented demand driven by the “Homebuilder Grant” and I am sure we are all glad to have left that behind us.