Some $100 billion was spent on new housing construction across Australia last year.
New housing construction work done
|State or territory||2018/19 distribution||Change on year before||Unemployment rate|
|Sept 2018||Sept 2019|
|Matusik + ABS. Value of Building Work Done, Chain Volume Measures, Seasonally Adjusted|
Some locations are doing better than others. Where building is strong, so too are employment numbers. Where less home building is taking place, jobs losses are more common.
With one in four jobs – directly and indirectly – involving housing construction we need new builds and major renovations to keep many of us in work.
So, are we really going to drop the migration intake?
And if so, what will replace the housing market as a major economic driver?
Of import too is when will we start building homes than more can afford?
Oh, silly me, I shouldn’t distract attention away from the latest auction clearance rates. Besides the daily housing index is spruiking clear skies ahead, what with SEQld always following Sydney’s lead. Also, the cash rate is falling. Plus, our banks are too big to fail. Anyways the new first home buyers’ scheme will see a big kick start to 2020.