More new housing and renovation investments

More new housing and renovation investments

Posted on Thursday, November 14 2013 at 11:59 AM

New dwelling commencements will improve and renovation investments will increase in 2014, according to the latest report from the Housing Industry Association (HIA).

The improvements will match the highs achieved during the post-GFC
stimulus with dwelling commencements lifting above 170,000 per year by 2016/17,
HIA senior economist Shane Garrett says.

“The improving level of dwelling commencements achieved in 2012/13 will
be consolidated this year before moving up a further leg in 2014/15,” he says.

“Growth in housing starts during 2013/14 will be concentrated in large
states like New South Wales, Queensland and Western Australia.”

Garrett says the growth in renovations will be much more broad-based
with increases occurring across most states.

In order to maintain the momentum Garrett called on state and federal
governments to look at addressing issues impeding the industry such as land
supply, infrastructure and planning approval delays. 

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