Dr Andrew Wilson, Chief Economist of www.MyHousingMarket.com.au is widely regarded as Australia’s leading property economist.
Building approvals for houses have surged over the past year fuelled by the Federal Government’s HomeBuilder initiative. 136,107 private sector approvals were reported by the ABS over the year ending April 2021 – an increase of 31.1% on the previous year. Total residential new building approvals – inclusive of houses, units, and townhouses, were however…
Well…whatever happened to the “Cliff”? Despite relentless predictions of higher unemployment rates to follow the end of Jobkeeper in March, Australia’s jobless rate continues to defy the “experts”. The ABS reports that the national unemployment rate seasonally adjusted plunged to just 5.1% over May and is now lower than the pre-covid rate of 5.2%. Employment…
Nation housing loans increased again over April thanks to the ongoing revival in investor activity that has clearly consolidated over recent months. The ABS reports that the total value of residential lending over April seasonally adjusted set yet another record at $36.1bn, an increase of 2.8% over the month and the sixth consecutive increase inactivity….
The remarkable house building boom of the past year continues unabated with another record month of activity and no sign of easing any time soon. The ABS reports that the number of capital city house building approvals surged again over March to a new record monthly total of 10,075. The March result was 12.6% higher…
Investors are now roaring back into booming housing markets across the country to cash in on currently surging home prices. The ABS reports that the value of national investor lending seasonally adjusted increased by 12.7% over March to $7.8b – the highest monthly total recorded since the similarly strong market conditions of August 2017. All…
House building activity continues to soar off the back of the now-defunct federal government HomeBuilder initiative. Latest ABS data reports that capital city building approvals for houses increased by 36.4% over February to a new record monthly high of 8,697. Over the first two months of this year, approvals for new houses have skyrocketed by…
Building approvals for higher-density homes inclusive of apartments and townhouses fell again over 2020 – the fifth consecutive year of declining development with no prospect of a sustained revival inactivity. Significant government stimulus initiatives specifically directed at the housebuilding sector have resulted in a surge in planned construction. However higher-density development approvals clearly remain subdued…
Wage growth remains at record low levels with no sign of a revival despite the strong recent labour market rebound. The ABS reports that the national Wage Index increased by just 1.4% over the December quarter of 2020 compared to the same period in 2019. The December quarter annual wages growth rate remains the lowest…
Latest home building approval numbers have predictably surged off the back of the federal government’s Home Builder scheme – the first phase of which expired at the end of December. The ABS reports that national private sector home building approvals seasonally adjusted increased by 11.5% over December to new record highs. Dwelling approvals were also…
The ABS reported a sharp increase in dwellings approved over November compared to October. Capital city building approvals increased by 19.7% to 11,781 – the highest monthly result since May. November’s sharp increase however reflected the previous months low result of 9840 dwelling approvals – the lowest since January. Surging unit approvals were a major…
