May 27, 2019
HIA National Conference and Victorian Award Winners
The best of Perth was on show as HIA members from across the country collected in Western Australia to celebrate the Australian Housing Awards and partake in the HIA National Conference.
Presidents and Vice Presidents from all regions also came to update a range of HIA’s policy positions at HIA’s yearly National Policy Congress, and to confirm the National President and Vice President for the next two years.
We are pleased to announce that Simon Norris from Queensland has been named as National President, and Alwyn Even from Western Australia will step into the role of National Vice President.
We thank the outgoing National President Pino Monaco, for his contribution to the Association across the country, and we look forward to working with him as he continues his position on the National Board.
Plenty of networking and learning was had, with builders, suppliers, trades and professionals all enjoying the spectacular Marina Bay skyline for the welcome party before getting some business tips from a range of experts at the Building Business Sessions.
The HIA-CSR Australian Housing Award winners were unveiled before hundreds of attendees at the prestigious awards ceremony held at Perth’s Crown Casino on the final night of the HIA 2019 National Conference.
Congratulations to our Victorian award winners. Vicky and Steve Smith from S Smith Builders who won the Australian Spec Home Award, and Porter Davis, who took home the Australian Professional Major Builder category.
Victorian State Budget announced
The State Government has announced its 2019/20 budget. The Government has presented Victoria as being in a strong economic position with employment growth, big infrastructure spends and a surplus this year and moving forward. It has also indicated a focus on the completion of the North East Link and a continuing rail crossing removal program, together with suburban and regional rail projects.
But despite acknowledging a slowing residential sector, there is little by way of specific home buyer relief or stimulus to support the housing sector. A key factor for this year’s budget has been the $5.2 billion write-down in state government revenue from stamp duty off the back of weakening property conditions. This stamp duty write-down is believed to be the largest ever and above what was anticipated late last year.
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HIA Autumn outlooks released
HIA has just released its Autumn edition of its Quarterly State Outlook. With widespread concerns about the state of the market at this time and where its headed the report includes much awaited economic updates and forecasts for new home building and renovations activity in Victoria.
There were only 14,264 dwellings commenced in Victoria in the final quarter of 2019 which was the weakest quarter since early 2014. The decline in activity will not have taken anyone by surprise. The housing market has been cooling for over a year and the pace of decline accelerated in the later months of 2018 as the credit squeeze took its toll.
Detached house starts in 2018/19 are estimated to have declined by around 8.0 per cent compared with 2017/18. The slowing in building activity has lagged the downturn in the state’s broader housing market (i.e. price falls). While the downturn in home prices looks to be losing momentum, the report predicts that housing starts are likely to have further to fall. A further decline of 9.0 per cent is forecast for detached houses in 2019/20 with a further decline of 7.0 per cent in 2020/21.
Download full report