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YOUR HOME MAGAZINE, 2017
Building conditions improve in Canberra:
HIA National Housing Scorecard
RESIDENTIAL building conditions have slightly improved in
Canberra, according to the Housing Industry Association s
National Housing Scorecard.
The half-yearly review assesses a range of industry indicators,
with current conditions benchmarked against the long-term average.
The ACT moved up one place to fourth since the last report,
following NSW, Victoria and Queensland.
The ACT topped the nation when it came to house nancing,
however a lack of new detached homes in the pipeline let the
territory down, according to HIA ACT and southern NSW executive
director Greg Weller.
"The report notes that if not for the boom in property prices
in Sydney and Melbourne, the ACT could well sit further up the
table, which is a strong endorsement of the state of the industry,"
Mr Weller said.
"Nonetheless, the Achilles heel of the industry right now
remains detached home building, or more precisely, the lack of it."
The report said improved building conditions were driven by low
unemployment, wage rises and population growth.
"The ACT also topped the rankings in two of the 14 categories,
including housing nance, which is a positive indicator for future
building work," Mr Weller said.
• Related: Domain report -- Canberra house prices rise
• Related: Economic outlook drives Canberra property market
• Related: New home builds decline in Canberra
The capital ranked second in housing nance for rst home buyers.
The second category where the ACT led the pack was
attached dwelling transfers, which Mr Weller said relates to a
surge in unit construction.
Canberra ranked third nationally for dwellings under construction
across both the detached and multi-unit markets.
"However, the territory ranks last in the nation for both
approvals and commencements of detached homes, which goes a
long way to explaining the dilemma facing Canberrans seeking to
enter this part of market," Mr Weller said.
"This in turn can be directly traced back to the high cost and
limited release of land in the ACT."
New home building has declined in Canberra.
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