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“Approvals for detached houses fell by 17.3 per cent and 43.6 per cent for multi-units.
“This sharp fall in January can be attributed to staff shortages during the Omicron outbreak and a higher than usual uptake of holiday leave.
“There are no indications that home building activity is facing weak demand any time soon, despite temporary interruptions from the Omicron outbreak in January.
“The absence of Council workers, private certifiers and building business staff will have weighed on the ability to process approvals.
“We anticipate an above average volume of approvals will be reported in coming months as the impact of this disruption fades.
“Early indications are that home building bounced back as the Omicron wave abated and builders were able to return to work.
“There are more homes under construction at present than in any previous cycle and this will continue to grow until mid-2022.
“The elevated volume of homes approved, but not yet commenced construction, will ensure that January’s brief disruption won’t change builders’ busy schedule this year.
“The Reserve Bank has retained its ‘patient’ stance regarding its record low cash rate, as it waits for consumer behaviour to normalise, supply chain issues to ease and other international developments to emerge.
“This will help ensure that the salient constraint on builders this year remains the price and availability of land, labour and materials, not weak demand,” concluded Mr Devitt.
In seasonally adjusted terms, total residential building approvals decreased in the last three months compared to the previous quarter in Western Australia (-21.0 per cent), New South Wales (-19.1 per cent), Victoria (-13.4 per cent), South Australia (-5.8 per cent), and Queensland (-5.7 per cent), while in original terms, increasing in the Northern Territory (+3.4 per cent), the Australian Capital Territory (+11.0 per cent) and Tasmania (+11.1 per cent).
This week, HIA’s National Board of Directors, Regional Committee Chairs and Senior HIA figures came together and debated the impact Government regulations and continuing change is having on the residential building industry and in driving up the cost of construction.
HIA provided a submission to the Fair Work Commission on the national annual minimum award review and for the Expert Panel to consider the specific issues confronting the residential building industry.
“This week the Housing Industry Association (HIA) brought together Australia’s construction industry leaders. The overwhelming consensus of the group was that the Government’s Housing targets cannot continue to be just another ‘aspirational target or housing statement’ but must result in the actual delivery of these much-needed homes,” HIA Managing Director, Jocelyn Martin, said today.
At Friday’s Work, Health and Safety (WHS) Ministers meeting, Ministers determined the next steps to move forward with the implementation of a ban on engineered stone.