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{{propApi.successMessage}} {{region}} Change locationACT underperforming in national housing scorecard
ACT underperforming in national housing scorecard
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“The Australian Capital Territory sits in sixth place in the latest HIA national housing scorecard rankings, with its performance deteriorating compared to the last few years.”
Wednesday, 01st May 2024
“At a time when housing is in chronic undersupply, there is a concern that not enough is being done by governments to address the problems facing the industry,” said Greg Weller, HIA Executive Director ACT/Sthn NSW.
“While issues that have impacted on housing supply and the sustainability of the industry, such as interest rates and the pandemic are not the direct result of government decisions, there is not enough being done to address the problems that it can fix.”
“These include more investment in skills, increased supply of shovel ready land, reduced taxation on housing, more efficient planning systems and less red and green tape.”
“This recent report indicates that detached housing and renovations sectors has weighed down the ACT ranking, along with population decline through interstate migration.”
“Predictably, the main positive is the multi-units sector, reflecting the focus on higher density living. Finance approved to first home buyers was another positive from the report.
“The renovations sector recorded its equal weakest quarter in 15 years, sitting 23.6% below the decade average, the only jurisdiction to do so.”
“The ACT also has one of the weakest detached housing sectors in the nation, ahead of only the Northern Territory. New work entering the pipeline has tumbled from its pandemic heights, with approvals for new detached housing recording its third-weakest quarter since the ABS started the data series in 1970s.”
The number of detached houses commencing construction is sitting 42.0% below the decade average and is the lowest since records started in 1980.”
“While issues that have impacted on housing supply and the sustainability of the industry, such as interest rates and the pandemic are not the direct result of government decisions, there is not enough being done to address the problems that it can fix.”
“These include more investment in skills, increased supply of shovel ready land, reduced taxation on housing, more efficient planning systems and less red and green tape.”
“This recent report indicates that detached housing and renovations sectors has weighed down the ACT ranking, along with population decline through interstate migration.”
“Predictably, the main positive is the multi-units sector, reflecting the focus on higher density living. Finance approved to first home buyers was another positive from the report.
“The renovations sector recorded its equal weakest quarter in 15 years, sitting 23.6% below the decade average, the only jurisdiction to do so.”
“The ACT also has one of the weakest detached housing sectors in the nation, ahead of only the Northern Territory. New work entering the pipeline has tumbled from its pandemic heights, with approvals for new detached housing recording its third-weakest quarter since the ABS started the data series in 1970s.”
The number of detached houses commencing construction is sitting 42.0% below the decade average and is the lowest since records started in 1980.”
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