Powered by MOMENTUM MEDIA
Powered by MOMENTUM MEDIA
subscribe to our newsletter

WA tops nation in home building

Western Australia has again been ranked the strongest residential construction market in the country.

A report released by the Housing Industry Association reveals that WA has triumphed for the second year running in the home building stakes, ahead of the Northern Territory and NSW

Victoria and South Australia both moved up one place in the rankings to fourth and fifth respectively, while the ACT slumped from fourth to sixth.

Advertisement
Advertisement

HIA economist Geordan Murray said the ACT’s decline has been driven by low levels of activity in the multi-unit segment, although there are also emerging signs of weakness in the territory’s detached home building market.

Queensland and Tasmania’s ranking remained unchanged, rounding out the scorecard in seventh and eighth place respectively.

Mr Murray said the recovery in Queensland continues to gather momentum, with analysis showing the improvement being driven by a boost in multi-unit home building.

“While Queensland still ranks as the second-weakest jurisdiction nationally, the margin to the states sitting mid-table has narrowed markedly,” he said.

“Overall, the scorecard shows that WA and NSW have caught up to Victoria in terms of historically high levels of new home building activity.

“However, activity in these states no longer appears to be rising,” Mr Murray said.

“At this point in time, future growth hinges on the capacity of the Queensland market to sustain the recovery.”

 

WA tops nation in home building
mortgagebusiness

Latest News

The technology solution provider has acquired open banking fintech Frollo in a bid to “improve lending experiences using open banking”,...

Two-thirds of analysts do not believe that now is a good time to purchase a home, according to new research. ...

A seasonal reduction in the number of homes taken to auction has coincided with an increase in clearance rates over the past week. ...

FROM THE WEB
podcast

LATEST PODCAST: Support for current broker remuneration model

Do you expect COVID-19 to reduce or increase your business flows?

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.