First home buyers have kept Victoria at the top of the rankings, according to the HIA\u2019s Housing Scorecard.<\/p>\n
The HIA Housing Scorecard report presents analysis which ranks each of the eight states and territories based on the performance of 12 key residential building indicators.<\/p>\n
\u201cAnalysis in this edition of the HIA Housing Scorecard shows that Victoria is still supporting a strong level of building activity on the ground, despite a slowdown in the volume of new work entering the pipeline,\u201d HIA\u2019s chief economist Tim Reardon said.<\/p>\n
\u201cFirst home buyers have been taking advantage of the improved affordability of homes.<\/p>\n
\u201cThe upside of the recent building industry cycle is that as activity levels have synchronised across the east and
\nwest coasts \u2013 and within each state \u2013 it has become easier for policy makers to coordinate policy settings.<\/p>\n
\u201cNational policy settings \u2013 including repeal of regulatory restrictions, lower interest rates and now income tax cuts \u2013 have shifted to encourage growth.<\/p>\n
The market now faces more consistent and appropriate regulatory settings across the economy which should, in turn, put a floor under the market downturn.\u201d<\/p>\n
He said that for much of the past decade there had been highly divergent market conditions between capital cities and even within each state.<\/p>\n
\u201cThis has challenged policy makers<\/p>\n
who were attempting to cool the boom in Sydney and Melbourne markets and in doing so, inadvertently
\nexacerbated the downturn in markets in Western Australia and Northern Queensland.<\/p>\n
\u201cThere is a convergence of conditions underway in the building industry as the markets in Sydney and Melbourne cool, meaning they have joined the resource intensive jurisdictions with more modest levels of building activity.\u201d.<\/p>\n","protected":false},"excerpt":{"rendered":"
First home buyers have kept Victoria at the top of the rankings, according to the HIA\u2019s Housing Scorecard. The HIA Housing Scorecard report presents analysis which ranks each of the eight states and territories based on the performance of 12 key residential building indicators. \u201cAnalysis in this edition of the HIA Housing Scorecard shows that […]<\/p>\n