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{{propApi.successMessage}} {{region}} Change locationBuilders to remain busy into 2023 - May update
Builders to remain busy into 2023 - May update
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The Australian Bureau of Statistics today released data on building approvals and on lending to households and businesses for May 2022.
“Detached house approvals increased by 1.8 per cent in the three months to May 2022 to be 14.7 per cent higher than the same three months in 2019,” added Mr Ward.
“Renovations activity also remains elevated. While the value of renovations approved fell by 1.8 per cent in the three months to May 2022, it is 38.9 per cent higher than the same three months in 2019.”
“At the end of 2021, there were 75.7 per cent more detached homes under construction than at the end of 2019.”
“Activity in 2022 shows the rate of new home building and renovation activity remains strong which will assist in delaying the adverse impact of rising interest rates on building activity, and therefore on the wider economy.
“Encouragingly, investor activity continues to grow. The value of loans to investors in the three months to May 2022 was 36.2 per cent higher than the same three months in 2021. This points to more supply of rental homes in the future, which will help alleviate the severe rental shortage being experienced around Australia,” concluded Mr Ward.
Building approvals - Australia (May 2022)
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Come walk a day in the shoes of small business
Before introducing another tax, another reporting requirement, another compliance obligation or another cost increase, HIA is calling on government ministers and policymakers to spend a day in the shoes of a small business owner.
Tradies teaching tradies key to growing Australia's construction workforce
The Housing Industry Association (HIA) has welcomed the Australian Government's $5 million pilot investment to support experienced tradespeople to become vocational education and training (VET) teachers, saying it addresses a longstanding challenge facing the construction training system.
Implementing carpentry registration and licensing Consultation Paper
Imposing registration and licensing on trades represents a significant impost, further degrading the capacity to deliver homes and other domestic building work. This submission, therefore, is not limited to responding to the Consultation Paper, rather, it addresses more broadly the significant risks that imposing registration and licensing on trades will have on the sector.
Government delays ATO credit card payment changes
The Federal Government has announced that the Australian Taxation Office (ATO) will continue to accept credit card payments for tax liabilities until the end of the 2026-27 financial year, delaying changes that were previously due to take effect on 1 December.