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Major infrastructure and social housing delivery dominate in a cash strapped NSW Budget
The 2024-25 State Budget delivered by NSW Treasurer Daniel Mookhey is relying on a housing recovery to bolster future revenue and reduce the current deficit of $9.7 billion to $1.5 billion by 2027-28. It hopes to achieve this via land tax and transfer duties growing at an estimated 8.7% p.a and 4% p.a respectively, according to forward estimates.
The $5.1 billion Building Homes for NSW Package announced in the budget is targeting social and affordable housing initiatives using surplus Government land, to be delivered by Homes NSW & Landcom. The package aims to deliver 21,000 new market and affordable homes, 8,400 social homes, and 500 rental dwellings for key workers over the next 4 years.
Disappointingly there were no initiatives to support first-home buyers, especially those wanting to purchase a new house and land package who are all but locked out of the market.
$520 million to support infrastructure for the Transport Oriented Development (TOD) initiatives and another $555.5 million to speed up the planning system are solid measures. The budget papers highlighted that the NSW target of 75,000 dwelling p.a over 5 years to meet the National Housing Accord will be extremely challenging to meet. It also highlights an increase in the percentage of new housing stock delivered in established areas from ~70% to ~85%.
Other pre-budget announcements on piloting a finance guarantee to help fast track developments and an increase to foreign investment surcharge taxes are covered in our earlier media release.
David Bare
Executive Director
New South Wales
Market confidence continues to improve
“The number of housing loans issued for the purchase and construction of a new home in the three months to August was 9.1 per cent higher than at the same time in the previous year,” stated HIA Chief Economist, Tim Reardon.
Tasmanian residential building contracts - Variations
In Tasmania, any change to a residential building contract valued at $20,000 or more requires a signed variation document. Without this, builders face fines and potential impacts on their license. The key message is always secure written approval before starting additional work.
Principles and scope of a Building Product Registration Scheme
HIA provided a response to the ABCB Building Product Framework - Consultation Paper.
HIA Safe Work and Mental Health Month
As we launch into both Safe Work Month and Mental Health Month there has been a large focus on Silica, the associated health and safety regulations, awareness and how to manage the risks.
Spotlight
President's report
We deliver stories that make you feel part of a vibrant community of like-minded industry professionals, ...
Apprentices
There’s no better time than now to employ an apprentice and help them build the foundation for a long and...
Member stories
Hear from our members, in their words, about their day to day challenges and highlights in work and life.
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National Construction Code 2022
Keep up-to-date with the evolving changes for your region. Check out the NCC 2022 hub with all the latest info, courses and seminars.
Awards & events
HIA-Jason Windows Building Women Thrive Series
Stay up-to-date professionally and get handy information for your business by attending our networking events.
HIA-Complete Home Filtration Premier’s Breakfast
Hear the latest economic forecasts and trends to help you make better business decisions, featuring key presenters from HIA’s Economics Team as well as guest speakers.
2024 ACT Election Forum
Come and hear the issues that are impacting the residential building industry in the ACT.
HIA-Cosentino Cairns Housing, Kitchen and Bathroom Awards
Award evenings are enjoyable events, mixing great food and entertainment with recognition of the Award winners.
HIA Awards
HIA Awards provide home builders and designers the opportunity to receive recognition, and showcase their work to the broader industry. Winners and finalists not only receive extensive media promotion for their business, they also get the opportunity to promote themselves as an industry leader.
Previous winners
Home of the Year
Winner: Chateau Architects + Builders
Apartment of the Year
Winner: Bronxx
Project Home
Winner: Construction By Design (NSW)
Careers & learning
Learning a new skill or adding to your existing knowledge is the best way to advance your career and help reignite your passion for getting up in the morning and doing a job that you love. It's not just about what you can learn but also how you can use your new found knowledge to reach the next step in where you want your career to go.
CPC40320 Certificate IV in Building Project Support (Estimator)
This qualification is designed to meet the needs of estimators and schedulers in the building and construction field who may have responsibility for the preparation of estimates and quotations for construction works.
CPC40120 Certificate IV in Building and Construction (Building)
This certificate course is designed for building and construction personnel who wish to gain valuable skills as a professional builder in the low rise residential sector.
Building Work Contractor's Licence in South Australia
Take the next step in gaining professional licences in South Australia within the building and construction sector.
CPC40320 Certificate IV in Building Project Support (Contract Admin)
This qualification is designed to meet the needs of contract administrators in the building and construction field who may have responsibility for the preparation and administration of building contracts.
Support for your business
Building it right
HIA’s experienced Building and planning services team can help you navigate residential building legislation and keep your project on track.
Getting approval to build
Most new homes and renovations to existing homes require a development approval (DA) before they can be built. A DA will normally be granted by the local council.
Managing your safety
We have been helping businesses like yours for over a decade by offering safety checks and site-specific safety systems designed to meet current workplace health and safety requirements.
Managing your business
HIA’s expert workplace advisors can offer you bespoke support to help you navigate the maze of compliance in the building industry.