Page 6 - Tom Devitt News Today

Dwelling approvals declined at a time when population growth is surging due to the return of overseas migrants, students, and tourists.

ABS data shows total approvals fell in New South Wales by 34 per cent for the first three months of this year, but hardest hit were townhouses, units and high-rises.

“It is anticipated that the RBA’s actions to date will result in a more significant easing of the shortage of trades later this year, as well as some more declines in the prices of trades.

Many builders have reported “negative sales” over recent months, at a rate last time seen at the start of the pandemic.

New building approvals fell by 27. 6 per cent in January, the lowest monthly level seen since July 2012, with houses recording their fifth consecutive monthly drop. New data from the Australian Burea

The latest ABS lending indicators data has revealed a further decrease in the value of new loan commitments for January 2023. According to the Australian Bureau of Statistics (ABS) lending indicators

The Australian Bureau of Statistics’ January report on monthly building approvals indicates that building approvals are at their lowest level in a decade.

The new home market is slowing and builders across the country are trying to hold on amid rising prices and labour shortages, but not all will make it.

Housing hurdles have been highlighted in Business NSW’s pre-election push for ‘doubled’ skilled migration intake.       . . . more to come     [Related: HIA calls for tax reforms on housi

Even with land prices affordability growing slightly, HIA-Corelogic’s latest Residential Land Report for the penultimate quarter of 2022 revealed sales hit record lows.