Global Power | Local Knowledge | Uniquely Personal
All Articles News FAQs Videos
中文

Housing construction 'is too slow in Australia'

The government needs to make policy reforms to lower the costs involved in the construction of new property in Australia, the Housing Industry Association has claimed.

The construction of new property in Australia is not occurring quickly enough to meet the demand from the ever-expanding population.

This is according to the Housing Industry Association (HIA), which said that this has been reflected in the "soft" number of owner occupier loans that were issued for new housing in January.

"An unequivocally weak update on housing finance for January 2011 reinforces the appropriateness of a steady interest rate environment. It is important the Reserve Bank maintains a clear message of stable rates," said Harley Dale, chief economist at the HIA.

He went on to say that it is down to the government to make policy reforms which allow the costs of new housing to be reduced.

Mr Dale's comments follow the publication of a report by the Australian Bureau of Statistics, which revealed that finance commitments for property in Australia reached, in trend terms, $20.9 billion (£13 billion) in January.

Posted by Ravin Chatlani 

- Housing, construction, slow, approvals, loans, banks

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 info@smats.net.

中文

Subscribe Now