Enter your email and password to access secured content, members only resources and discount prices.
Did you become a member online? If not, you will need to activate your account to login.
If you are having problems logging in, please call HIA helpdesk on 1300 650 620 during business hours.
If you are having problems logging in, please call HIA helpdesk on 1300 650 620 during business hours.
Enables quick and easy registration for future events or learning and grants access to expert advice and valuable resources.
Enter your details below and create a login
The ABS released the Lending to Households and Businesses data for April 2022 today. The data provides statistics on housing finance commitments.
“While loans for new homes declined by 5.9 per cent in April 2022, this still leaves the month up by 10.7 per cent on its 2019 counterpart. Lending for the last three months is also up by 15.2 per cent compared to 2019,” added Mr Devitt.
“Lending to all segments of the market – first home buyers, other owner occupiers, and investors – remains well above their pre-pandemic levels.
“Lending for renovations, in particular, is sitting at almost three times pre-pandemic levels.
“At the end of 2021, there were 75.7 per cent more detached homes under construction than pre-COVID. There are also more homes approved and waiting commencement than in any previous cycle.
“Together with similar new home building and renovations booms in other developed economies, this has placed significant demands on the international supply of building materials, along with local supplies of land and labour. The result has been ongoing increases in the cost of home building.
“These factors will sustain Australia’s elevated number of homes and renovations under construction and keep Australia’s already-stretched home builders busy until at least June 2023.
“They will also delay the adverse impact of rising rates on the industry, and therefore the wider economy.
“An acute rental shortage and deterioration in affordability has also seen strengthening in demand for multi-units, including high rise apartments. On top of this, there are early signs of a return of overseas migrants, who tend to favour higher density living more than existing residents.
“With detached home building and renovations activity remaining at capacity for at least another year and demand for multi-units returning, the shortage of building materials and labour will continue to be the main pinch point for the industry.
“The Housing Industry Association (HIA) is pleased to see housing feature prominently at this week’s Economic Reform Roundtable particularly on cutting excessive red tape and streamlining environmental approvals, but as Treasurer Jim Chalmers has indicated more work is needed on easing housing construction,” said HIA Managing Director, Jocelyn Martin.
“As an industry association whose members are embedded in the Hunter and Mid North Coast communities, HIA welcomes the $50 million Housing Support Package announced by the Albanese and Minns Governments,” said HIA Hunter Executive Director Craig Jennion.
“The Housing Industry Association (HIA) welcomes today’s announcement by the Albanese Government in providing $300 million to support Australia’s future wood supply to meet increasing housing needs across the country,” said HIA Managing Director Jocelyn Martin.
“Today’s announcement on the successful take up of the HomeGrown Territory grant highlights the importance of this key housing support scheme that is spurring economic growth and kickstarting home building across the Territory,” stated HIA Executive Director - Northern Territory, Luis Espinoza.