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{{propApi.successMessage}} {{region}} Change locationRate increase risks unnecessary slowdown
Rate increase risks unnecessary slowdown
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“Loans for the purchase and construction of a new home fell in January to the weakest month since November 2008. This is before the full impact of rate increases in 2022 hit the market, let alone the February 2023 increase.
“There are significant lags evident in this cycle and the full impact of higher cash rates will not be fully reflected in economic indicators until the second half of the year, at the earliest.
“The higher cash rate is compounding the adverse impact of the rising cost of materials, labour and land as well as the increased costs of compliance due to changes to the building code.
“There remains a large volume of work underway that will be completed in 2023 which is obscuring the adverse impact of rate rises on other indicators such as unemployment and economic growth.
“By continuing to raise rates the RBA will inflict further unnecessary pain on the $120 bn housing sector and related industries,” concluded Mr Reardon.
Lending for Purchase and Construction of a New Home
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Researchers give pre-apprenticeship training the nod
“Of the estimated 34,000 apprentices who will commence a construction trade apprenticeship this year, we expect fewer than 20,000 will make it through to complete their qualification. This must improve,” stated Geordan Murray, Executive Director - Future Workforce.
Stamp duty tax cuts extended what you need to know
The Victorian Government has extended its stamp duty concession for off-the-plan properties, providing continued financial relief for homebuyers. This initiative aims to support the housing market and make home ownership more accessible.
National Policy Competition Analysis
HIA provided a submission to the National Policy Competition analysis 2025.
Prioritising Mental Health in WA residential building industry
As West Australia’s residential building industry continues to grow and evolve, it’s important we take a step back and look at something we often overlook - our mental health.