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- Sales rise as property activity rebounds in locked-down markets
- House prices to rise 22 per cent this year, and grow further next: Westpac
- The pandemic is pushing Australia’s hot property market to a whole new level — and the regulator is watching closely
- Victorian building boom hits new record for starts in financial year
- Be Inspired
There are more interesting articles, commentaries and analyst reports on the Web every week than anyone could read in a month.
Each Saturday morning I like to share some of the ones I’ve read during the week.
The weekend will be over before you know it, so enjoy some interesting reading.
Sales rise as property activity rebounds in locked-down markets
As lockdowns begin to come to an end, property activity rebounds.
This article from Realestate.com.au looks at what this means for the property market.
House prices to rise 22 per cent this year, and grow further next: Westpac
House prices are set to rise 22% according to a report from Westpac.
This article from Domian.com.au looks at what’s going on.
Read the full article here.
The pandemic is pushing Australia’s hot property market to a whole new level — and the regulator is watching closely
Australia’s property market continues to heat up.
This article from abc.net.au looks at what’s going on.
Read the full article here.
Victorian building boom hits new record for starts in financial year
The Victorian building boom has hit a new record.
This article from news.com.au explains the detials.
Builders started work on more new Victorian homes in the past financial year than ever before, but the construction sector has only had a “measured return” since its two-week shutdown ended.
Victoria’s building boom has soared to unprecedented levels with new figures revealing construction started on a whopping 46,287 homes in the past financial year.
The data released by the Australian Bureau of Statistics this week includes 14,200 detached homes that builders commenced in the three months to June, which is also a quarterly record.
The remarkable number equates to a third of all houses under construction around Australia.
The previous record for a financial year was set more than a decade ago at 39,249 home starts, while a quarterly record has stood since the 10,653 notched in March 2010 — after government stimulus to bolster the market following the global financial crisis.
However, the surge predates the two-week shutdown for the construction industry at the end of September.
Housing Industry Association Victorian executive director Fiona Nield said the remarkable boom appeared to have been spurred by the federal government’s HomeBuilder scheme, which offered qualifying homebuyers between $15,000 and $25,000 in grants to build a new house.
However, sales have remained strong since the program ended earlier this year and building approvals for new houses in recent months have continued at near record levels.
“At this stage it seems HomeBuilder has been particularly influential — though of course we’d love to see the trend continue,” Ms Nield said.
“And it might just be the case that some people have saved some money during Covid-19 and are potentially looking at buying a new home.”
But it’s the next data release from the ABS that has the industry’s attention, as it will capture most of Victoria’s two-week construction sector shutdown from September 20-October 4.
Ms Nield said despite the building ban ending over a week ago there had only been a “measured return” to home construction.
A three-site-a-week cap on most trades as well as an ongoing barrier to regional workers entering Melbourne meant work was continuing at a “reduced pace”.
Find a little inspiration during this uneasy time from thegoodnewsmovement.com.
Read the full article here
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