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“Australia has an unquestionably strong financial sector. It has withstood significant shocks, such as the Global Financial Crisis and the COVID recession, without the emergence of financial contagion.
“The share of loans that are impaired is exceptionally low, at around 0.4 per cent of all loans issued. This is significantly lower than in other developed economies.
“The very low levels of mortgage delinquency in Australia reflect the restrictive lending regulations imposed by financial regulators in Australia. Since 2010, financial regulations have made it increasingly conservative making it progressively more difficult for first home buyers to enter the market.
“Despite the lows levels of mortgage delinquency, APRA announced this morning that it has increased the ‘serviceability buffer’ for a new mortgage from 2.5 per cent to 3 per cent.
“First home buyers accounted for 35 per cent of owner occupier loans issued in August 2021 and these measures will make it harder to access a loan.
“This additional constraint is being imposed despite the share of loans with a 10 per cent deposit or less declining since December 2020. This share is well below those observed over the past decade.
“First home buyers are the group who are typically constrained by serviceability thresholds. It is this group that will be hit the hardest by these changes.
“Restricting access to credit for new households seeking to enter the housing market will put further downward pressure on the rate of home ownership in Australia,” concluded Mr Reardon.
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Victoria to adopt NCC 2025 and lead-free plumbing products from 1 May 2026
The Victorian government has announced this morning of two significant regulation changes that will take effect next month, those being Victoria jumping ahead of other states for NCC 2025 and the lead-free plumbing changes, with both commencing on 1 May 2026.
Allan government imposes more red tape on Victorian builders
The Housing Industry Association (HIA) is disappointed that the Victorian government has chosen to rush ahead with implementation of the latest update to the National Construction Code – NCC 2025.
Annual Wage Review 2026
HIA has lodged its submission to the Fair Work Commission's 2026 Annual Wage Review, supporting a 3.5% increase in the national minimum award wage rates, as the maximum the residential building sector can sustainably absorb.
Builders call on National Cabinet to 'do no harm' amid fuel crisis
Ahead of Monday’s meeting of National Cabinet, the Housing Industry Association (HIA) is calling on Commonwealth, State and Territory governments to provide immediate relief to the housing sector by adopting one simple, budget neutral principle: do no harm.