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Tough financial year for home building

Tough financial year for home building

by Reporter | September 27, 2012 | 1 minute read

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

by Reporter
September 27, 2012

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.

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"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.

Tough financial year for home building
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