Sales of new homes continued to fall last month, as the ongoing construction crisis claims more casualties. The latest Housing Industry Association (HIA) report, which surveys the major builders in the five largest states, showed a 7.2% decline in the sale of new homes in March, extending the streak of losses due to the impacts
Queensland is falling behind in the race to build new homes in a further sign that there is no relief in sight for the state’s crippling housing and construction crisis, with industry commentators fearing it will get worse before it gets better. In 2021-2022, strong migration saw 40,000 new households looking for a home to
Whichever direction property markets go in 2023, construction companies may keep toppling. Record-setting real estate prices and elevated construction and transaction activity hasn’t correlated to a healthy building sector in recent years. High-profile construction company busts have been headline fodder in 2022, with every week seemingly seeing another builder going under. Insiders and analysts have
With cost of living pressures top of mind, new consumer research released today by Commonwealth Bank reveals Australians are looking to reduce expenses, increase savings and lift their incomes as part of their New Year’s resolutions. The research highlighted: 9 in 10 (93 per cent) Australians have a financial goal for the New Year 1 in 2
The building and construction industry continues to be buffeted by many challenges which show no sign of abating. Master Builders Queensland has undertaken a survey in order to gain a better understanding of the nature of these challenges, how they expect to change going forward and how contractors are responding in their business practices. Current
Townhouses have been around for a long time, with demand for this type of dwelling picking up more recently and is expected to increase. Where is all this demand coming from? There are two key demographics creating the demand - young families and retirees. Young families The demand from from young families is coming in
New data from CoreLogic for the third quarter of 2022 has indicated the severity of the construction cost crisis plaguing Australia. The research firm’s Cordell Construction Cost Index (CCCI) found that in the 12 months to September 2022, national residential construction costs increased a record rate of 11 per cent. Quarterly growth rested at 4.7
Brisbane-based townhouse developer AR Developments has filed plans for 122 units south-east of the Queensland capital—and several hundred homes for wayward koalas right next door. In a development application before the Redlands City Council, AR Developers have asked for a material change of use for a 4.65ha site upon which they plan 20 quadplex units, eight
Women are increasingly doing it for themselves when it comes to investing. While research five years ago found that only a third of investors were female. Back then, the average real estate investor was a married, wealthy, middle-aged man with a high income and full-time work; that’s now rapidly changing. It found that 32 per
It’s a tough time to build or renovate a house in Australia. Prices are up, well above inflation. Finding materials and getting them on time is a challenge. Builders are grappling with too much work and stress (with some folding as costs rise too fast). Customers are being confronted with eye-watering price quotes. And as any would-be home builder
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