Bumper year for new home building in TasmaniaThe latest ABS Building Activity data released today shows that 2014 was a bumper year for new residential construction in Tasmania with the value of work and number of building starts both recording double digit increases in the year to December, seasonally adjusted.Tasmania saw new residential dwelling commencements skyrocket by 32.3 per cent year on year hitting 2,324 in seasonally adjusted terms for 2014, with a more modest but still strong 10 per cent increase for the December quarter.The value of new residential building work increased by 5.3 per cent for the December quarter and 18.1 per cent increase for the year, in seasonally adjusted terms.This was broadly in line with the national trend which saw the value of new residential construction and number of building starts record increases of 11.6 per cent and 17.9 per cent respectively in the year to December, seasonally adjusted.The Property Council of Australia’s Tasmanian Executive Director Brian said the good results for new residential building activity would provide dividends in terms of housing affordability.”We are seeing strong increases in the value of new residential construction work nationally, and even more so here in Tasmania which is great news for homebuyers,” Mr Wightman said.”The more new homes we get onto the market, the more the pressure will come off house prices.”The key going forward is to have this increase in new supply maintain sufficiently high levels for the next several years. “This will only be achieved if governments at all levels commit to implementing micro-economic reform, particularly in the areas of tax and planning, to unlock the growth potential of the property and construction industries.”Mr Wightman said he looked forward to continuing the excellent relationship with the State Government in order to deliver the necessary reforms required to further stimulate the economy.Media contact: Brian Wightman |M 0429 073 773 |E [email protected]
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