MASTER BUILDERS BLAME HOUSING SLUMP ON NATURAL DISASTERS

Written on the 15 March 2012

MASTER BUILDERS BLAME HOUSING SLUMP ON NATURAL DISASTERS

A DROP in the commencement of new dwellings in Queensland is due to natural disasters and not because the state’s economic recovery is faltering, says Queensland Master Builders Association’s Paul Bidwell (pictured).

The latest Dwelling Unit Commencement figures from the Australian Bureau of Statistics (ABS)  show in the six months to December, 13,276 dwellings were commenced - down from 14,240 in the previous corresponding period.

"These figures reflect decisions made in early 2011, when much of the state was gripped by flooding, cyclones and speculation about interest rate rises. Generally conditions were much more uncertain than they are now,” says Bidwell, the QMBA’s director of housing policy.

"Things began to turn around in September 2011and that should be reflected in increased commencements in the next few months.”

While the latest figures suggest an eventual shortfall in the QMBA’s forecast of 28,000 commencements in 2011-12, Bidwell is confident the final number will better the 26,683 commencements on 2010-11.

The decline in Queensland was the worst of all the states, with housing starts in the quarter declining 17.9 per cent.

“Recent ABS data for finance commitments and building approvals confirm this view,” he says.

Interest rate cuts late last year and the Queensland Government’s Building Boost Grant also are expected to improve future figures, says Bidwell.

“Based on the trends in finance commitments and building approvals, Master Builders expects the emerging recovery to continue, which should translate into a reasonable end of financial year for the housing sector,” he says.



Latest News

SPOTLESS REJECTS DOWNER'S 'HOSTILE' $1.2B BID AS IT PROMISES A STRATEGY RESET

CLEANING and catering services company Spotless has rejected a $1.26 billion takeover bid from mining services firm D...

EXCLUSIVE INTERVIEW: MEGAPORT CEO VINCENT ENGLISH ON GLOBAL EXPANSION AND HOW TO SCALE UP A BUSINESS

THE RAPID expansion of Megaport (ASX: MP1) continues with the Brisbane-based company announcing a major partnership d...

BRISBANE ENTREPRENEUR BREAKS BARRIERS IN ECO-BUSINESS

TRACEY Bailey believes that if every person understood the true social and environmental cost of every product the...

DOMINO'S PIZZA EMPLOYEES OFFERED A SLICE OF THE PIE

DOMINO'S Pizza (ASX: DMP) has launched an employee share acquisition plan which will give its 26,000 staff the...

Related News

FURNITURE DISRUPTOR SET TO SHARE HIS ONE OF A KIND BUSINESS MODEL

IT'S no secret that Australians love homemaking. Their ceaseless quest to create the perfect place to call hom...

WEEDING OUT THE ASX'S BURGEONING CANNABIS TREND: 8 COMPANIES TO WATCH

A NICHE is budding on the ASX in the form of medical cannabis, an industry which has been on the country's rad...

FRESH CLASS ACTION TO REVEAL ANOTHER SIDE OF SLATER AND GORDON DOWNFALL

ACA LAWYERS has issued a formal letter of demand to Andrew Grech (pictured), managing director of Slater and Gordo...

STARSHIPS WERE MEANT TO DELIVER DOMINO'S PIZZA

NICKI Minaj may have been off the mark when she declared 'starships were meant to fly'. However, she m...

EVENTS COMING UP

 

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter