Global Power | Local Knowledge | Uniquely Personal

Finance figures raises hope for construction

Construction leaders are hopeful following the release of housing finance statistics.

Hope for the construction sector is on the rise following the release of housing finance figures from the Australian Bureau of Statistics (ABS).

The value of financial commitments made for the construction of new housing went up by 0.2 per cent to $5.3 billion  in seasonally adjusted terms in April. This comes after statistical increases in both March and February.

Commenting on the results, chief economist at Master Builders Australia Peter Jones said: "The April housing finance figures consolidate the strong increases in February and March. It confirms a positive trend and is a welcome change for the industry after many months of volatile figures."

He added that as more consumers are investing in property at the moment there is a high chance that this will filter through to the construction sector. As the stock of new properties is running out, more dwellings will need to be approved to meet demands. Indeed, ABS figures show residential dwelling approvals have been rising.

Posted by Steve Douglas

DISCLAIMER: All information provided is of a general nature only and does not take into account your personal financial circumstances or objectives. Before making a decision on the basis of this material, you need to consider, with or without the assistance of a financial adviser, whether the material is appropriate in light of your individual needs and circumstances. This information does not constitute a recommendation to invest in or take out any of the products or services provided by SMATS Services (Australia) Pty Ltd or Australasian Taxation Services Pty Ltd.

COPYRIGHT: All information provided is protected by international copyright laws. You may not copy, reproduce, distribute, publish, display, perform, modify, create derivative works, transmit, or in any way exploit any such content, nor may you distribute any part of this content over any network. Copying or storing any content is expressly prohibited without prior written permission of SMATS Group or the copyright holder identified in the individual content's copyright notice. For permission to use the content on please contact

Subscribe Now