Global Power | Local Knowledge | Uniquely Personal
All Articles News FAQs Videos
中文

Govt 'must reduce cost of new housing'

The cost of new property in Australia must be reduced, according to the Housing Industry Association.

In light of new figures relating to loans for property in Australia, the federal government must take action to reduce the cost of new homes, the Housing Industry Association (HIA) has claimed.

 

 

The Australian Bureau of Statistics' Housing Finance report for March 2011 showed that, over the first quarter of the year, the total number of loans for the construction and purchase of new dwellings fell by 12 per cent.

 

 

Dr Harley Dale, chief economist at the HIA, said that these figures show the appropriateness of keeping interest rates steady.

 

 

"The clearest signal in today's figures, however, is the need for federal and state governments to step up to the plate and deliver on stimulus and reforms to reduce the cost of new housing," Dr Dale added.

 

 

Earlier this month, the HIA claimed that the federal Budget could have done more to help the recovery of the Australian property market.

 

 

Posted by Ravin Chatlani

- HIA, government, ABS, prices, housing, property

DISCLAIMER: All information provided is of a general nature only and does not take into account your personal financial circumstances or objectives. Before making a decision on the basis of this material, you need to consider, with or without the assistance of a financial adviser, whether the material is appropriate in light of your individual needs and circumstances. This information does not constitute a recommendation to invest in or take out any of the products or services provided by SMATS Services (Australia) Pty Ltd or Australasian Taxation Services Pty Ltd.

COPYRIGHT: All information provided is protected by international copyright laws. You may not copy, reproduce, distribute, publish, display, perform, modify, create derivative works, transmit, or in any way exploit any such content, nor may you distribute any part of this content over any network. Copying or storing any content is expressly prohibited without prior written permission of SMATS Group or the copyright holder identified in the individual content's copyright notice. For permission to use the content on please contact info@smats.net.

中文

Subscribe Now