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Regional update

March 17, 2019

HIA kicked off our events for 2019 with our first Economic Outlook luncheon on Friday. The Outlook presented drew on our most recent forecasts, where we expect to see the same levels of building activity this year as last, and a recovery in housing starts through 2020 and beyond.

The impact of the banking royal commission and the resulting credit squeeze has also seen approvals numbers for 2018 to be lower than expected.

The softer activity has been something we have been highlighting to Government. In meetings with the Premier, Housing Minister and Treasurer’s office, we have been imploring government to think twice about introducing measures that could make it harder to build homes. We have received some great support in looking to have the building and planning approvals processes sped up and are pleased to see the ongoing commitment to the first home buyers boost and Keystart.