Rise in October Building Approvals
Building Approvals for Western Australia experienced a rise during the month of October 2008. Seasonally Adjusted approvals for detached houses jumped 8.9% in October compared to September 2008, rising from 1303 to 1419.
Credit Availability Remains Major Issue
HIA, Australia’s largest building industry association, believes weak building approvals throughout 2008 to date confirmed the likelihood of continued weakness in Australia’s residential sector for the remainder of this financial year.
HIA welcomes new planning direction
The Housing Industry Association has welcomed the Victorian Government’s announcement today to extend the Urban Growth Boundary.
Rate is Right for Home Purchase
The HIA, Australia’s largest building industry association, says that the further 1 percentage point cut to interest rates announced today by the Reserve Bank of Australia will help more aspiring first home owners live the dream.
More Pressure on Housing Starts
The HIA National Outlook, Australia’s most comprehensive report card on the residential sector, points to a rough short term outlook for residential construction.
Rate Cut Underscores Worsening Economic Outlook
Master Builders Australia, the peak building and construction industry, today welcomed the continued aggressive stance taken by the Reserve Bank of Australia in reducing the official cash rate by one percentage point.
House Approvals Tank
Dwelling approvals continued their steep decline in October, supporting aggressive moves by the Reserve Bank to bring down interest rates, according to Master Builders Australia, the peak body for the building and construction industry.
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