Boosted Grant: Queensland’s Housing Challenges Addressed
In a proactive response to the declining home ownership rates among young…
16 June 2022
The New Home Sales Report is based on a survey of the nation’s largest volume of home builders in the 5 largest states of Australia. The Housing Industry Association, which ran the survey, has announced that it expects the worker demand in real estate construction to last until at least the end of 2023.
Housing sales remain at extremely high levels, which means that detached house projects coming into the pipeline remain elevated and the homebuilders remain under pressure, due to timeframe delays and material shortages.
“Despite the fall in April, new home sales in the first few months of 2022 remain exceptionally strong and marginally higher than in the same period last year,” HIA Economist Tom Devitt said.
The shortage of labour and requirement of construction workers for these detached housing projects is expected to remain, for at least another year.