$15.7 Billion Record For Building Industry in 2004

Victoria's building industry continues to boom, with building activity in 2004 increasing by 8.6% to a record-breaking $15.7 billion.

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  House Approvals Up But Rate Rise Yet to Impact

Stronger than expected building approvals indicate that the housing market began to level out in January after the mild 2004 slowdown, but the industry needs to absorb last Wednesday's rate rise, according to Master Builders Australia, the peak body for the building and construction industry.

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  Rate Rise to Challenge Building Industry

The Reserve Bank has embarked on a risky strategy by raising rates at this point in the housing and economic cycle, according to Master Builders Australia, the peak body for the building and construction industry.

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  Rate Rise Unjustified - HIA

Today's move by the Reserve Bank to raise official interest rates is both unwelcome and unjustified.

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  Slowing Economy Flies in Face of Rate Rise

Australia's economic growth rate slumped markedly at the end of 2004 with exports acting as a substantial drag at a time when domestic demand is cooling.

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  House Price Growth is Slowing

The pace of growth in house prices continued to slow at the end of last year but there is no crash on the horizon.

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Approvals Confirm Ongoing Strength in Housing Demand

Tight rental markets, high overseas migration and strong household formation continue to underpin demand in Australia's new housing sector.

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