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ISCOVER
Staff Reporter
The Housing Industry Association is calling on the government to introduce greater housing stimulus after dwelling commencements fell again in the December quarter.
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Total dwelling starts were down by 6.9 per cent in the December 2011 quarter, data from the ABS found.
According to HIA senior economist Andrew Harvey, 148,108 new homes were started across Australia in 2011 – significantly down on the 169,884 homes started in 2010.
“Rather than focussing on a short-term budget surplus outcome, the Commonwealth Government would be better-placed looking at how it can reform housing supply in order to lift home building levels, boost economic activity, and secure important productivity benefits,” Mr Harvey said.
“Drastically cutting stamp duty on new homes should be at the top of the Government’s priority list in the current economic environment.”
Meanwhile, commencements of ‘other dwellings’ dropped by 14.6 per cent to 11,136 to be down by 23.2 per cent on the year earlier.
Seasonally adjusted dwelling commencements fell by 7.3 per cent in Victoria, 17.9 per cent in Queensland, 15.4 per cent in South Australia, 3.3 per cent in Western Australia, 20.1 per cent in the Northern Territory, and 18.5 per cent in the ACT. Seasonally adjusted starts rose by 0.6 per cent in NSW and by 5.8 per cent in Tasmania.
