Global Power | Local Knowledge | Uniquely Personal

‘New home starts increased in some areas of Australia’

New home starts increased in Australia, with some areas of the country seeing a 26.6 per cent boost.
In the final quarter of 2013, new home starts in Australia increased 8.2 per cent overall, reaching highs in particular areas, according to figures from the Australian Bureau of Statistics.

This means this sector of the real estate market is on its way to recovery, suggests the Housing Industry Association (HIA).

The statistics show that in the last three months of last year, the number of new home builds increased by 8.2 per cent, in seasonally adjusted terms.

In some areas of the country the hike was much more significant, with the number of new dwelling commencements growing by 11.3 per cent in Victoria, 15.8 per cent in Queensland and 25.2 per cent in South Australia.

However, not all parts of the country experienced a boost, as there was a 1.3 per cent decline in Western Australia, a 13.3 per cent drop in the Australian Capital Territory and by 26.6 per cent in the Northern Territory.

Geordan Murray, an economist at the HIA, commented: “The data provides confirmation of what leading indicators had been implying, that the new home building industry rounded out 2013 on a strong note.”

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