Tasmania shows the way with approvals despite cloud over lending conditions
February 07, 2019
Despite national new home approvals falling by 9.1 per cent in November last year to reach their lowest level since August 2013, Tasmania has bucked the trend. It is the only State to have recorded an increase in approvals and is up by 30.6 per cent.
This result is no doubt due to the strength of its new housing market which is compensating for external factors such as a tightening of lending conditions and delays in loan approvals. While Tasmania is not immune to these factors and will need to maintain a watching brief the early signs are that elevated levels of housing construction are set to continue throughout 2019. To find out more, see media release.