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Ease in Housing Affordability Due To Record High New Residential Constructions

By Admin | Apr 16, 2015 at 1:09 pm | 0 Comments |


“Growth of new home building constructions has been recorded high in 2014 with doubled work value and new construction buildings that are started throughout the year,” showed ABS latest data.

From the past year, new home dwellings increased by 17.9 per cent making value around 197,972 for 2014.

For the December quarter, the value of new residential construction work increased by 2.8 per cent that shows the stats of growth for Home Builders Brisbane, Melbourne, Sydney, etc. and for 2014 over the past year, an overall increase of 11.6 per cent also found by the ABS.

“Record high levels of residential constructions will help in ease of Australia’s Housing affordability.” said by Nick Proud, Executive Director, Property Council of Australia.

Proud further said that for the quarter of December 2014, there was fall by 10.6 percent in the starting of these new home constructions despite of these encouraging results. So, this year, these would be monitored closely and would be taken more carefully.

“In Sydney, housing deficit estimated to be increased by 190,000 over the next ten years.” indicated by research commissioned earlier this year by Property Council.

This week, the announcement of the launch of the new national task force team will be held, under supervision of federal Treasurer Joe Hockey, to recommend the ways to increase the supply of housing construction materials and stock, as affordable housing construction dwelling is still the major concern of Aussies.

Source:

https://mozo.com.au/home-loans/articles/record-high-new-home-building-could-ease-housing-affordability-concerns-abs-data/6589859277


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