New Home Building Sector Continues to be Strong, according to HIA

According to The HIA (Housing Industry Association) the latest New Home Sales Report, a survey of Australia’s largest volume builders, indicates the ongoing strength of the new home building sector.

In a post HIA Economist Diwa Hopkins was quoted, explaining that monthly sales volumes remained high throughout last year following the recovery made in the previous year. In fact the growth was quite significant, 2014 sales were 14.4 per cent higher than 2013.

According to the data, December 2014 did see a slight decline in new home sales. Seasonally adjusted new home sales fell by 1.9 per cent but sales increased by 4.9 per cent in the December quarter. The December monthly outcome reflected a drop of 9.2 per cent in multi-unit sales.

Hopkins went on to explain:

 “A key change in conditions to the residential construction sector in 2015 is the February cut to the official cash rate to a new historic low,” said Ms Hopkins. “However, it should be noted that this cut was made in the context of a mooted tightening of lending conditions in parts of the housing market.”

“This year will be another healthy one for the national new home building sector,” added Ms Hopkins. “The two key leading indicators of new home building activity, new home sales and residential building approvals, both saw increases during the December quarter of 2014.This is a clear indication that actual residential construction activity will rise in the current early months of 2015, which is good news for the broader domestic economy in addition to the housing sector.”

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In Western Australia detached house sales grew by 2.8 per cent in December 2014 and by 2.6 per cent in Queensland.

In South Australia, detached house sales dropped by 5.3 per cent and in Victoria it declined by just 2.6 per cent. Victoria also had a slight decline (1.4 per cent) in New South Wales.

The HIA Report also explained that during the December 2014 quarter, sales increased by 13.4 per cent in Western Australia, 11.6 per cent in Queensland and 2.7 per cent in Victoria. It also indicated that sales declined by 10.3 per cent in New South Wales and by 7.5 per cent in South Australia.

While predictions are for a positive 2015 in terms of housing construction starts, the only way that we will be able to ensure sustainable growth and a profitable 2015 all round is to ensure that we put safety first.

Safety must take priority in 2015 and everyone in the industry – employees as well as employers, must take responsibility for OHS.

Employers carry much of the responsibility for safety in the workplace, having to provide a safe work environment and system of work according to workplace health and safety laws but employees aren’t without responsibility.

Within the construction sector employees must ensure that they conduct themselves in a way that does not endanger their safety or that of co-workers on a construction site. In order to be aware of what “safe behaviour” on a construction site constitutes, workers must complete construction induction training and obtain a White Card as proof of doing so.

Posted by Construction Safety News Admin
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