๐๐ผ๐บ๐ฒ ๐๐๐ถ๐น๐ฑ๐ถ๐ป๐ด ๐๐ฝ๐ฝ๐ฟ๐ผ๐๐ฎ๐น๐ ๐๐ฎ๐น๐น ๐ฎ๐ฌ.๐ฒ% ๐๐ฒ๐ฎ๐ฟ-๐ผ๐ป-๐๐ฒ๐ฎ๐ฟ
Despite much talk about the need to build more homes for our fast-growing population, the pipeline of new housing is actually shrinking rather than increasing.
There were 13,144 residential building approvals in September, which was 4.6% lower than the previous month and 20.6% lower than the previous year, according to the Australian Bureau of Statistics.
The shortfall becomes even clearer if we zoom out.
Over the five years to September 2018, there were a total of 1,128,960 approvals; but over the five years to September 2023, only 947,277.
A big turnaround will be needed for the federal government to achieve its target of facilitating the building of 1.2 million new homes in the five years from July 2024.
Subiaco finance brokers are here to help
Interest rate rises are here, but you donโt have to fear with the right broker on your side.
The team at Sonam Capital are here to empower you through financial knowledge. Weโll take the time to get to know you and your unique situation and speak in a language you can understand, with strategies you can implement for the best possible outcomes.
Nick, Wayne and Amanda at Sonam Capital are your Subiaco finance specialists.
