Enter your email and password to access secured content, members only resources and discount prices.
Did you become a member online? If not, you will need to activate your account to login.
If you are having problems logging in, please call HIA helpdesk on 1300 650 620 during business hours.
If you are having problems logging in, please call HIA helpdesk on 1300 650 620 during business hours.
Enables quick and easy registration for future events or learning and grants access to expert advice and valuable resources.
Enter your details below and create a login
The Australian Bureau of Statistics today released its monthly building approvals data for March for detached houses and multi-units covering all states and territories.
“Detached house approvals declined by 2.9 per cent in the month of March to be 15.0 per cent lower than in the same month last year,” added Mr Devitt.
“This continues the long-lagged response of Australian homebuyers to the RBA’s interest rate hiking cycle, with further declines expected in the coming months.
“The adverse impact of last year’s cash rate increases is still to fully flow through to the official data. Further cash rate increases this year will have only added further weight to these declines.
“Multi-unit approvals in 2023 have recorded their lowest levels since 2012. The combination of construction cost blowouts, labour uncertainties, increased compliance costs and taxes on investors has seen approvals for multi-units stall.
“These disappointing approvals numbers are occurring as population growth surges with the return of overseas migrants, students and tourists.
“This imbalance will see the affordability and rental crisis deteriorate further,” concluded Mr Devitt.
Total building approvals were down across almost all the jurisdictions in the March Quarter 2023 compared to the same quarter last year. In seasonally adjusted terms, decreases were led by New South Wales (-34.1 per cent) and Victoria (-26.6 per cent), followed by Western Australia (-14.9 per cent), Tasmania (-10.8 per cent) and South Australia (-5.7 per cent), while Queensland increased by 8.6 per cent. In original terms the Australian Capital Territory saw a decline of 35.3 per cent and Northern Territory was down by 19.1 per cent.
“An investment in new home building from the Future Fund would support increasing housing supply and could be used to overcome structural barriers to increasing the supply of new apartments which are vital to addressing Australia’s housing shortages,” stated Jocelyn Martin, HIA Managing Director.
HIA is proud to support the first Bricklaying Job Ready program in Geraldton that commenced on 4 November this year. The program has come as the result of hard work and collaboration from Brick & Block careers, Central Regional TAFE and the Western Australian Government.
The Housing Industry Association (HIA) in the ACT & Southern NSW has announced the year’s winning homes, kitchens and bathrooms on Saturday 16 November, celebrating exceptional builds across the region.