ANALYSIS: HomeBuilder was thought to have saved the construction industry during the pandemic, but now builders are struggling to break even.
A building surge coupled with supply chain disruptions and a materials shortage has resulted in the fastest rise in rate of costs since GST was introduced.
As building approvals decline, new data highlights that the building industry is experiencing the 'most significant' skills shortage in almost 20 years.
The number of new homes being built rose by 49.1% in the last year, while units fell by 20.7% according to the Housing Industry Association (HIA).
Australian Bureau of Statistics data from the June quarter shows a modest 0.8% advance in construction work completed.
New data from Upside Realty shows the price gap between apartments and houses has never been wider.
There’s lots of support available for first home buyers to help them enter the market, and some of this support was amended in the most recent Federal Budget.
As residential building activity hastens, one housing affordability expert has warned against home renovators following trendy reality TV style cues.
The government is facing renewed calls to extend the HomeBuilder scheme again due to record levels of construction and home loan approvals.
The Federal Government's HomeBuilder Scheme ends March 31, and experts are tipping applications to skyrocket before then.