Housing finance figures released by the Australian Bureau of Statistics show the number of loans for housing has continued to decline over the last eight months, according to the Real Estate Institute of Australia (REIA).
New home sales continue to retreat from record highs
A 15.7 per cent slump in new apartment sales contributed to a 3.7 per cent drop in new home sales across the country, with Melbourne the only national capital to record an increase.
“The housing sector has already stepped back from its role driving the Australian economy and now is not the time for governments to hit the industry with punitive charges,” warned Tim Reardon, HIA’s Principal Economist.
2016 Census: what does it tell us about housing in Australia?
The data in the 2016 census confirms trends we already know about: the population is growing strongly, fewer people own their homes, more people are renting, and household size is shrinking.