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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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Brisbane plan must not be derailed by NIMBY opposition
The Housing Industry Association (HIA) has backed Brisbane City Council’s ‘More Homes, Sooner’ plan, warning that community opposition risks undermining much-needed housing supply and worsening affordability pressures across the city.
Dealing with cost increases under your contract
HIA is aware that industry is raising concerns about price increases to fuel and materials arising from the conflict in the Middle East. To assist members to account and respond to price increases we have prepared information on dealing with cost uncertainties and fluctuations under HIA contracts.
How to unpick Keating’s Legacy: a users guide
This opinion piece from HIA Chief Economist Tim Reardon responds to the Reserve Bank of Australia Financial Stability Review and discusses how the cumulative tightening of macroprudential settings has increasingly locked first home buyers out of the market.
HIA delivers Small Business Survey to Deputy Premier
HIA today presented the 2026 Small Business Conditions Survey to the Deputy Premier and Minister for Small Business, Trade and Consumer Affairs, the Hon Guy Barnett MP, during the HIA President’s Luncheon in Hobart, where the Minister met directly with Tasmanian builders to discuss the challenges and opportunities facing residential construction businesses.