I guess this will make all the doom even more Armageddon like...
WA Still the Nation’s Strongest Home Building Market
The Housing Industry Association, the voice of Australia’s residential building industry, today released the bi-annual Housing Scorecard report.
“Western Australia has once again topped the rankings, remaining the strongest residential building market in the country by a healthy margin, ahead of the Northern Territory and New South Wales. There is daylight between the three strongest states and the rest of the pack," said Geordan Murray, HIA Economist.
“The Australian Capital Territory took a tumble down the league table sliding from fourth to sixth. Lower levels of activity in multi-unit segment drove the decline, although there were also emerging signs of weakness in the ACT’s detached house building market.”
“The recovery in Queensland continues to gather momentum. The analysis shows the improvements can be attributed to a boost in multi-unit home building. While Queensland still ranks as the second weakest jurisdiction nationally, the margin to the states sitting mid-table has narrowed markedly.”
“Overall, the Scorecard shows that WA and NSW have caught up to Victoria in terms of historically high levels of new home building activity. However, activity in these states no longer appears to be rising. At this point in time, future growth hinges on the capacity of the Queensland market to sustain the recovery,” concluded Geordan Murray.
The HIA Housing Scorecard benchmarks the contemporary performance of fourteen key indicators of activity in residential building against long term averages in each state and territory. This analysis is aggregated in a scoring system to generate a league table ranking the relative strength/weakness of residential building conditions in each jurisdiction."
