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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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Tasmanian Government should reaffirm commitment to DAPs
The Housing Industry Association (HIA) is calling on the Tasmanian Government to reaffirm its commitment to introduce Development Assessment Panels (DAPs) policy, following statements from the Minister for Housing and Planning at yesterday’s Budget Estimates hearings.
HIA calls for amendments to narrow 'new housing' test
“The Housing Industry Association (HIA) is urging the Senate to amend the Government’s proposed negative gearing and capital gains tax changes, raising concerns about their impact on the housing market and putting forward amendments to improve the flawed policy, including broadening the definition of new homes.
Getting ready for the end of financial year 2026
As the 2025/26 financial year draws to a close, now is the time to get your business ready for tax time and the changes coming from 1 July 2026.
HIA calls for draconian law to be withdrawn
The Housing Industry Association (HIA) is calling on the Victorian Government to withdraw proposed legislation that will expose home builders to fines over $10,000 if they fail to get the right paperwork to their client before conducting extra building work the client has asked them to do.