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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.
HIA provided this further submission to inform the Expert Panel’s first review of the Road Transport Contracting Chain Order made on 28 April 2026.
“The Housing Industry Association (HIA) welcomes the NSW Government’s announcement that the DOMA Group will lead the construction of Newcastle’s biggest-yet precinct transformation,” said HIA Executive Director Hunter, Craig Jennion.
“Australian manufacturers are doing the heavy lifting to keep the nation’s housing pipeline moving - employing thousands and underpinning local economies,” said Housing Industry Association (HIA) Chief Executive Industry & Policy Simon Croft.
New federal anti-money laundering and counter-terrorism financing laws (AML/CTF laws) will take effect from 1 July 2026.