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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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Building Commission NSW - North Coast Inspections Blitz
Building Commission NSW is currently out and about conducting inspections and audits on the North Coast of NSW, including Coffs Harbour and surrounding areas.
Opening Statement: Senate Select Committee Inquiry into Productivity in Australia
Australia’s housing affordability challenge is, at its core, a productivity challenge. Despite strong population growth and sustained demand, the capacity of the housing industry to deliver new homes efficiently has progressively deteriorated over the past three decades.
Regional Housing roundtable calls for dedicated national plan
Leaders meeting at a Housing Industry Association (HIA) hosted regional housing roundtable in Nowra, have warned that current housing policy settings are failing regional communities, and are calling for a dedicated national housing plan to address mounting supply pressures beyond Australia’s capital cities.
NT government to impose more red tape on builders
The Housing Industry Association (HIA) is disappointed that the NT government has chosen to rush ahead with implementation of the latest update to the National Construction Code – NCC 2025.