Construction of New Homes Almost On Par with Population Growth

Following reports that construction activity wasn’t going to keep up with population growth and the need for housing it creates, the approval of a record number of homes in the 12 months to November 2014 means that construction may actually be able to keep up with needs.

In an article on TheReporter.com.au the latest home approval figures from The Australian Bureau of Statistics was released.

The figures show that 18,245 new homes were approved in November which brings the annual figure to 199,174.

In the article Residential Development Council executive director Nick Proud was quoted saying that this figure was a sign that the construction industry seemed to be on track to meet growing demand. Mr Proud explained:

25-1322134-MY2310BT[1]_fct1023x630x1x50_t620“The record high level of total dwelling units approved remains promising across the regions which is a contrast for a nation that has under-built over the past decade,” Mr Proud said.

“To show the current strength of the November 2014 ABS Building Approvals result, the same 12-month period ending November 2011 saw only 158,298 homes approved which is over 40,000 fewer residential approvals than today’s result.

Source: http://www.thereporter.com.au/news/construction-on-track-to-catch-population-growth/2509501/

Basically the number of new homes being built may finally be enough to meet the growing demand of the expanding population. This will not only mean housing will be a little more affordable for consumers but it also means that activity in the construction industry is healthy – good news for construction workers and builders.

The article on TheReporter.com.au went on to explain what some of the implications of this revelation would be,

“It appears that the number of homes being built is finally catching up with population growth and this result can positively support improved affordability if coupled with the introduction of supply side efficiencies in land release, development assessment and tax reform in 2015-16.

“Additional income from GST and stamp duties from roughly 40,000 extra homes underscores the potential to consider a mature consistent approach to competition policy particularly in areas such as planning reform to ensure that the strong cycle is not lost to poor planning outcomes.”

Source: http://www.thereporter.com.au/news/construction-on-track-to-catch-population-growth/2509501/

Given the amount of growth taking place we should not forget that safety needs to take precedence over anything else related to construction and productivity.

Forecaster BIS Shrapnel recently released its latest industry report which claims that the building upturn will likely continue for the next half a decade.

According to BIS Shrapnel Building Industry Prospects Report for September, an increase in house prices and residential building activity in 2014/15, is accompanied by an 8 per cent increase in renovation activity.

As construction activity remains high all across Oz, it is important for workers, employers, safety managers and potential construction workers to take into consideration the importance of safety training. Throughout the country, workers must complete general construction induction training. This training is known as The White Card – it is the national construction accreditation required for access onto a building site for work. For more about this White Card accreditation, click here.

 

Posted by Construction Safety News Admin
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