The Urban Developer
AdvertiseEventsWebinars
Urbanity
Awards
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
Untitled design (8)
FULL PROGRAM RELEASED FOR URBANITY-25 CONNECTING PROPERTY LEADERS ACROSS THE ASIA PACIFIC
FULL PROGRAM RELEASED FOR URBANITY-25 WHERE THE PROPERTY INDUSTRY CONNECTS
VIEW FULL AGENDADETAILS
TheUrbanDeveloper
Follow
About
About Us
Membership
Awards
Events
Webinars
Listings
Resources
Terms & Conditions
Commenting Policy
Privacy Policy
Republishing Guidelines
Editorial Charter
Complaints Handling Policy
Contact
General Enquiries
Advertise
Contribution Enquiry
Project Submission
Membership Enquiry
Newsletter
Stay up to date and with the latest news, projects, deals and features.
Subscribe
ADVERTISEMENT
SHARE
print
Print
OtherStaff WriterWed 22 Jun 16

Residential Building: NSW Dethroned In State Rankings

i

The Housing Industry Association has released the organisation’s bi-annual Housing Scorecard. The report presents a unique analysis of the performance of the residential building industry in each state and territory and provides an objective ranking of each jurisdiction’s performance.

“There were over 220,000 dwellings commenced in Australia during 2015 – a new annual record. However, there were significant divergences in conditions for residential building around the country. The eastern seaboard states have been the strongest performers, the mining states are sliding down the order, while South Australia and Tasmania are facing the most challenging conditions,” said HIA Economist, Geordan Murray.

“There is little to separate the top two ranked states, but it is Victoria that has edged out New South Wales to take the top spot. With nearly 70,000 dwellings commenced in 2015, it is not all that surprising that Victoria was number one, but Victoria also ranked as the strongest market for renovations.

“Western Australia is off the pace of the top two states, but still ranks third. The high ranking for WA belies the challenging conditions emerging for residential building, as evidenced by nearly eighteen months of falling home prices. The state’s overall ranking is propped up by strong performances in indicators of residential building that is already underway. The leading indicators highlight the recent deterioration in conditions and the prospect of weaker conditions ahead, which the HIA has been warning of for a considerable time.

“Queensland is not performing as strongly as Victoria and NSW, but the housing recovery is being tempered by the downturn in the mining and LNG sectors. While residential building conditions have improved in the south eastern corner of the state, the key regional markets to the north - which were leveraged to the mining and LNG projects - are now feeling the pinch.

“Tasmania and South Australia round out the league table ranking seventh and eighth, respectively. However, the conditions in each state are quite different. A nascent recovery is underway in Tasmania, albeit from a particularly low starting point. Conditions in South Australia are already weak and the risks are skewed to the downside.

“The geographic disparities in residential building conditions evident in the latest Housing Scorecard, and disparities across housing markets more broadly, represent a substantial challenge for policy makers. With housing related policies high on the agenda in the federal election campaign, it is important that any new measures are assessed in the context of regional markets experiencing widely divergent conditions,” concluded Mr Murray.
[urbanRelatedPost][/urbanRelatedPost]


Five Squared marketing director Ashley Lewis who develops housing estates in outer Melbourne suburbs such as Clyde North and Doreen commented on the strong demand for house and land packages in Melbourne’s growth areas.

"We have seen remarkable interest in our Clyde North development Bloom having sold out all stages before the titles were issued – a very rare occurrence for premium land developments. Similarly, we’ve pre-sold over 95% of the two stages currently under development of our project Katandra Rise in Doreen," Mr Lewis said.

"Many buyers are coming to Melbourne’s outer ring looking to get a foot into the property ladder and start building a home to raise their family. Nowhere else in Melbourne can you affordably live in a new home so close to everything – great parks and wetlands, quality schools, major shopping centres, and existing transport infrastructure.

"Pent up demand is extraordinarily high but continuing regulatory hurdles and delays are significantly restricting developers’ ability to provide adequate supply to the market in a timely manner. Land prices on Melbourne’s urban fringe are rising. It’s still more affordable to buy a house and land package here than in the other major cities." 

ResidentialAustraliaConstructionConstructionSector
AUTHOR
Staff Writer
"TheUrbanDeveloper.com is committed to delivering the latest news, reviews, opinions and insights into the best of urban development from Australia and around the world. "
More articles by this author
ADVERTISEMENT
TOP STORIES
Exclusive

‘Construction Not a Scale Game’: Hutchinson

Phil Bartsch
9 Min
Nation's build-to-rent project Charlie Parker in Sydney's Parramatta where more projects are being located and built outside the CBD.
Exclusive

Foreign Capital Still Dominates BtR but Things are Changing

Marisa Wikramanayake
7 Min
Exclusive

Fortis Reveals Plans for Coveted Bowen Terrace Site

Taryn Paris
4 Min
Exclusive

Accor Deputy Delivers Verdict on Brisbane Games Hotel Shortfall

Phil Bartsch
6 Min
Qld Budget 2025-26 Brisbane City
Exclusive

Billions Promised, Now Deliver: Industry’s Qld Budget Verdict

Vanessa Croll
6 Min
View All >
Charter Hall’s $925m Hyde Park skyscraper
Planning

Charter Hall $925m Sydney Skyscraper Wins City Backing

Vanessa Croll
Exclusive

‘Construction Not a Scale Game’: Hutchinson

Phil Bartsch
Industrial

Cadence Nabs Logistics Portfolio for $170.5m

Taryn Paris
The deal for Stockland’s assets aligns its focus on industrial markets with embedded reversionary potential, the develop…
LATEST
Charter Hall’s $925m Hyde Park skyscraper
Planning

Charter Hall $925m Sydney Skyscraper Wins City Backing

Vanessa Croll
3 Min
Exclusive

‘Construction Not a Scale Game’: Hutchinson

Phil Bartsch
9 Min
Industrial

Cadence Nabs Logistics Portfolio for $170.5m

Taryn Paris
3 Min
Development

Rare Coastal Development Opportunity in Heart of Mooloolaba

Partner Content
2 Min
View All >
ADVERTISEMENT
Article originally posted at: https://theurbandeveloper.com/articles/victoria-dethrones-nsw-top-state-rankings