Master Builders Australia (MBA) has highlighted the positive aspects in the latest figures from the Australian Bureau of Statistics (ABS) concerning.
Chief economist for MBA Peter Jones argued the Australian property sector has benefited from a rise in outlook, with the ABS data highlighting a 4.9 per cent increase in finance for the construction of new homes in June.
Furthermore, finance for purchases of these property was up by 9.7 per cent during the month.
He commented: "With incentives for new home buyers to take effect in New South Wales later in the year, there could finally be a light at the end of the tunnel for housing."
Earlier this month, chief executive officer of MBA Wilhelm Harnisch called on the government to reconsider legislation regarding the security of payments for those operating in the construction sector.
He claimed attention needs to be given to ensuring the costs involved in delivering new projects do not suffer from uncertainty under the present guidelines.
Posted by Craig Francis
