Latest Building Approvals Confirms Buoyant New Home Buyer Confidence

Written by: Wilhelm Harnisch, Chief Executive Officer, 03 Feb 2016

The December 2015 Building Approvals confirms that calendar 2015 was a solid year of housing growth and will underpin a high level of new housing building activity in 2016.

“Total building approvals for calendar year 2015, reached 232,078 dwelling units seasonally adjusted with the three eastern states contributing nearly 80 per cent of all building approvals,” Wilhelm Harnisch said.

“The December 2015 Building Approvals remain very strong despite a small dip in apartment approvals,” he said.

“The December building approval data confirms that confidence among new home buyers and investors remains strong, underpinned by the continuation of low official interest rates,” he said.

“The industry expects new house building activity to remain buoyant for the rest of 2016, particularly if interest rates stay at the current low settings,” Wilhelm Harnisch said.