HOUSING IN AUSTRALIA – HIA MEDIA RELEASE

Date 08.04.2016 There has been a boost in February’s new residence approvals which recovered January’s decline.

according to ABS data released today, said the Housing Industry Association (HIA), the voice of Australia’s residential building industry.

“The data for January showed that 2016 started on a rather sour for new home approvals. Today’s figures show that growth returned during February,” noted HIA Senior Economist Shane Garrett. During February 2016, new home building approvals rose by 3.1 per cent. This comprised a 1.0 per cent decline in detached house approvals but the more volatile multi-unit segment achieved growth of some 7.7 per cent in approvals during the month.

Over the year to February, new dwelling approvals totalled 232,194. The flow of data over recent months indicates that approvals may have hit their high point in the year to October 2015, with a record 239,250 approvals registered over that 12 month period. “The monthly lift in approvals activity during February is welcome but it seems increasingly likely that approvals peaked late last year and that the volume of new home building activity is set to ease as 2016 progresses,” explained Shane Garrett.

The Down Under Centre are partnered with Stay Rent Buy Australia, your one-stop property solution. Whether you are after short, medium or long term accommodation in Australia, the qualified and experienced team at Stay Rent Buy Australia are here to help.
Stay Rent Buy Australia is your one-stop Australian property solution. We exist solely to assist new residents with all their accommodation needs once they arrive in Australia. This encompasses temporary accommodation for when you first arrive and then more permanent accommodation in terms of either a long term rental property or the purchase of a home. Whatever your long term accommodation preference there is certainly a lot to learn and we are here to ensure you enter into this arrangement well informed.

For Special offers and discounts use our PROMO CODE DUC20 when you register with Stay Rent Buy Australia!

Source: https://hia.com.au/~/media/HIA