Search Results for: Tim Reardon
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NEWS
Tim Reardon: Attract foreign investors don’t tax them
Foreign investors are not to blame for Australia’s housing shortage and are actually one of the keys to solving the crisis, according to an economist.
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NEWS
Stimulus supports property industry – but will it be enough?
“HIA welcomes the Australian Government stimulus package, particularly the support provided for apprentices,” said HIA Chief Economist, Tim Reardon. “The residential building industry has contracted by around 20 per cent from its peak during the May 2018 quarter and most indicators showed an improvement in conditions in the second half of 2019. “Australia is emerging…
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Elite Agent
A demand for detached housing will ‘pull the economy forward’: HIA
A renewed interest in detached housing will put our economy into recovery mode, according to HIA's Chief Economist Tim Reardon.
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NEWS
Is the inflation spike just a ‘blip’ on the radar?
Inflation figures released today are likely to see interest rates remain high for longer, according to experts.
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INDUSTRY NEWS
Australia’s property market buckles as immigration hits a 70-year high
The Australian housing market is being put to the test after a record 765,900 new overseas arrivals landed in the country in the 12 months to September.
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NEWS
New housing lending continues to drop
The value of new housing lending fell in January for the second consecutive month, according to the latest ABS Lending Indicators.
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INDUSTRY NEWS
Building approvals can’t keep up with record immigration
Australia’s record level of immigration is outpacing new construction which means the housing crisis is only going to get worse according to an expert.
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INDUSTRY NEWS
Housing approvals remain at low levels
Despite surging demand and already low stock levels, new house building approvals numbers have fallen, with the Government’s plan to build 1.2 million homes looking further out of reach according to the industry.
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INDUSTRY NEWS
Dwelling approvals and loan commitments drop
The Reserve Bank of Australia may have kept interest rates on hold this week, but that hasn’t stopped property industry experts from hitting out at the central bank after the latest lending figures showed the number of loans for buying and building a new home has dropped alarmingly.
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INDUSTRY NEWS
Higher cash rate hitting new home sales
The sharpest increase in the official cash rate in history has seen new home sales across the country continue to fall.
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INDUSTRY NEWS
Is the new home sales market turning around?
New home sales have risen 6.8 per cent, with industry experts hinting the market could be starting to rebound
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INDUSTRY NEWS
First-home buyers lead the way as new loan commitments rise
New loan commitments for housing have risen for the first time since early 2022, climbing 4.9 per cent in March, including a substantial 15.8 per cent increase in new owner-occupier first-home buyer loan commitments.
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INDUSTRY NEWS
Refinancing hits a record high as borrowers try to combat rising rates
Rising interest rates are pushing increasing numbers of borrowers to refinance in search of lower interest rates, while new loans have continued to decline according to new data.
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INDUSTRY NEWS
Experts weigh in on interest rate debate
More than one-third of experts in Finder’s RBA Cash Rate Survey believe the central bank will put the cash rate on hold at its meeting today.
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INDUSTRY NEWS
High interest rates weigh on new homes sales
The record rise in interest rates is continuing to weigh on new home sales, while a better than expected jobs report could mean rate cuts might not be on the way.
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INDUSTRY NEWS
New home lending falls to lowest level in three years
New home lending has fallen to the lowest level in three years as industry experts believe it's time for the RBA to stop hiking interest rates.
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INDUSTRY NEWS
Home builders to weather the interest rate storm
Home builders are well positioned to handle higher interest rates, believing the events of the past two years have been more difficult to contend with.
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INDUSTRY NEWS
Rents and mortgage repayments to keep rising
Rents and mortgage repayments are expected to continue to rise over the next 12 months, putting more pressure on households already struggling with the high cost of living.
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NEWS
Experts tip cash rate to rise before end of 2022
More monetary policy experts are tipping an interest rate rise before the end of the year, despite not expecting the Reserve Bank of Australia to lift the cash rate tomorrow.
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NEWS
Home building boom to continue in 2022
Australia’s home building boom is set to continue throughout 2022 despite the cost of labour and materials rising and pushing the cost of a new home higher.
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NEWS
APRA steps in to curb mortgage debt with increased interest rate buffer
The Australian Prudential Regulatory Authority (APRA) has stepped in to curb household mortgage debt, announcing stricter lending conditions.
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INDUSTRY NEWS
Regional areas benefit from Sydney and Melbourne’s population exodus
Regional areas in New South Wales and Victoria have seen a huge spike in house sales as city residents move away from Sydney or Melbourne.
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NEWS
New home building hits highest level in more than 20 years
New home building surged to its highest level in more than 20 years in the December quarter, with the Housing Industry Association attributing the rise to the Federal Government’s HomeBuilder program.
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Elite Agent
Construction of new homes to hit record high in 2021
A record number of almost 130,000 detached homes are anticipated to commence construction in 2021.
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NEWS
HomeBuilder is working for now, but a second cliff is up ahead
A 15.4 per cent leap in the number of dwelling approvals and a 25.3 per cent rise in the value of housing construction loans during September shows the effectiveness of the HomeBuilder program.
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Elite Agent
The full impact of HomeBuilder is now evident: HIA
The full impact of HomeBuilder is now evident with sales now 11.8 per cent higher compared to last year. HIA
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Elite Agent
First home buyer loans hit 11-year high
"The short-term stimulus from HomeBuilder is emerging in the housing finance data released by the ABS today."
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Elite Agent
PCA call for six-month Home Builder extension
Recent research by the National Housing Finance and Investment Corporation predicted that demand for housing in Australia would fall by up to 232,000 dwellings over the next three years.
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NEWS
HomeBuilder will keep residential building industry afloat in December Quarter
The HIA New Home Sales report indicates that HomeBuilder will support building activity and protect jobs in the industry during the December 2020 Quarter.
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Elite Agent
Residential land demand highest in two years
The impact of HomeBuilder is finally beginning to be represented by statistics.
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Elite Agent
Australian housing at its most affordable since 1999
HIA’s Housing Affordability Index for the June Quarter 2020 indicates national property prices are at their most affordable since 1999. HIA’s Affordability Index is calculated for each of the eight capital cities and regional areas on a quarterly basis and takes into account the latest dwelling prices, mortgage interest rates, and wage developments. Housing affordability improved in the June quarter…
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Elite Agent
Australia starting to feel the HomeBuilder effect
The last two months of data suggests that HomeBuilder has been successful in bolstering new builds and protecting jobs in the short term. And although HIA are cautious of over interpreting data from only two months, they believe these two months are “a clear indication that HomeBuilder will help protect jobs in the sector in the second half of 2020…
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NEWS
New home sales rose in June, thanks to HomeBuilder
New home sales have risen by 77.6 per cent in June, up from a record low in May. “(This is) off the back of the Government’s HomeBuilder program announced at the beginning of the month,” Housing Industry Association’s Chief Economist Tim Reardon explains. “Without intervention, a significant contraction in the volume of work on the ground would have occurred in…
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NEWS
New home loans slump to lowest number on record in May
As expected, new home loans have fallen sharply in response to the COVID-19 crisis, with the latest Australian Bureau of Statistics figures indicating the value of new loan commitments for housing dropped 11.6 per cent in May. Noting this was the largest fall in the history of the series, ABS Chief Economist Bruce Hockman, said…
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NEWS
New home lending takes a dive in pandemic
Home lending has plunged in the wake of COVID-19, with the value of home loans falling dramatically in April – and the worst could be yet to come. The Australian Bureau of Statistics lending indicator data released this week shows new lending dropped by $935.5 million (or 4.80 per cent) compared to March 2020, according to the seasonally adjusted data.…
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