Dwelling commencements across the country have decreased significantly over the last quarter to September 2010. The latest figures released by the ABS show a -13.2% decline (seasonally adjusted) in the number of dwelling commencements across the country over the September quarter however, they are recorded 12.4% higher than the same time last year. Housing supply, [...]
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US housing markets in stark contrast to Australia's
The latest news to come out of the US housing market is that new home sale volumes have slumped to levels not seen since 1963 and established home sales have fallen to a decade low. The new home sales figures are considered to be a leading indicator for established home sales market, suggesting the US [...]
New South Wales gets it right
The recently announced New South Wales Budget sets out some of the most strategic property related initiatives seen to date, with incentives aimed at improving housing supply and affordability rather than simply throwing money at the symptoms. The most important announcement was that stamp duty, largely viewed as one of the most inequitable and inefficient [...]
It's all about the planning
The Queensland State Government announced two new initiatives this week. The first being plans to develop three new satellite cities capable of housing a total of 250,000 residents at Yarrabilba, Ripley Valley and Greater Flagstone within the Greater Brisbane Region. The second announcement being that the State Government would offer an increase to the current [...]
The Government's take on housing supply
The Federal Government’s National Housing Supply Council released their second State of Supply Report this week. Probably the most important finding of the 228 page document was the estimate that nationally there is a cumulative undersupply of 178,400 dwellings. The greatest undersupply in dwellings was found to be within New South Wales (57,600) and Queensland [...]
A shaky start for new housing supply in 2010
Dwelling approvals data released on the 2nd day of March by the Australian Bureau of Statistics was a stark reminder that the amount of new housing approved for construction remains well out of kilter with Australia’s rapid rate of population growth. The total number of approvals fell by 7 percent on a seasonally adjusted basis [...]
Dwelling approvals jump to highest level since 2004 in December
Building approvals data for December has just been released by the Australian Bureau of Statistics which shows a positive upwards trend in the number of homes approved for construction. On a seasonally adjusted basis dwelling approvals rose 2.2 per cent in December with 14,869 planned dwellings given the green light. This is the second consecutive [...]
More analysis of population growth and housing supply
Over the last few years we have consistently seen that Australia’s population has been growing strongly with more migrants and an improving birth rate resulting in a jump in natural increase (total births minus total deaths). During the 12 months to June 2009 we have witnessed a slowdown in the rate of population growth, largely [...]
What to do, what to do about affordable housing and supply?
There was some very interesting commentary this week on the state of the property market. Firstly, Ric Battellino the Deputy Governer of the Reserve Bank gave a speech on myriad of issues including dwelling supply at the national Housing Supply Conference in Melbourne this week. His comments agreed with the consensus (yours truly included) that [...]
How to manage our population boom?
Australia is going through a baby boom. Over the last year 293,600 babies were born in Australia; an absolute record number of new arrivals. At the same time, Australia is recording the highest level of overseas migration on record. The steep ‘natural increase” (ie births minus deaths) and the rate of overseas migration have combined [...]
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