ABS data reveals Queensland has housing approval momentum
An 11.3 per cent rise in monthly housing approvals for Queensland and 19.1 per cent drop in Tasmania have headlined the latest figures from the Australian Bureau of Statistics.
There has been no relief for the lending market in March, with new figures from the Australian Bureau of Statistics showing a further decline in the number of loans for housing.
The Australian Bureau of Statistics has released its Lending to Households and Businesses for February 2019, presenting statistics on housing finance commitments including for the purchase or construction of new dwellings.
Queensland's building sector faces "challenging" year ahead
Queensland's peak building body has warned of a tough year ahead, with the latest Australian Bureau of Statistics revealing plummeting building approvals.
New home sales fell by 14.9 per cent in the final quarter of last year, dropping to their lowest level in seven years, according to the Housing Industry Association of Australia (HIA).
Bi-partisan support for a Federal Housing Minister recognises the urgent need to address our housing affordability challenges at a national level, said the Housing Industry Association.
“Stronger new home building, off the back of strong population growth, is continuing to drive the improvement in economic conditions in Australia,” stated Tim Reardon, HIA’s Principal Economist.