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Tough financial year for home building

By Staff Reporter
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Results from the HIA-COLORBOND® steel Housing 100 Report have revealed the 2011/2012 financial year as a tough one for new home building.

The number of HOUSING 100 starts fell by 7.3 per cent to 48,130 in 2011/12, their lowest level since 1996/97.

HIA Chief Economist Harley Dale said the result was “consistent with the overall experience of the industry in 2011/12 where new home building conditions weakened considerably across Australia."

In 2011/12 the largest 100 builders started 35,909 houses (down 11 per cent from 40,183) and 12,221 units and townhouses (up 4 per cent from 11,720).

"The HOUSING 100 and the entire industry can deliver, and indeed Australia's residents have the requirement for, a considerably higher level of housing starts than has been evident over the last couple of years," said Mr Dale.

"Within an environment of subdued demand conditions, both unilateral and cooperative policy reform could generate a much healthier year for new home building in 2012/13. Sadly, evidence of the will to execute such policy action remains far slimmer than Australia requires," he said.

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