Insurance Mortgage Real Estate Concept Satisfied Client Showing House Model Thumb Up Smiling Pleased Standing Against Blue Background Min

๐—›๐—ผ๐—บ๐—ฒ ๐—•๐˜‚๐—ถ๐—น๐—ฑ๐—ถ๐—ป๐—ด ๐—”๐—ฝ๐—ฝ๐—ฟ๐—ผ๐˜ƒ๐—ฎ๐—น๐˜€ ๐—™๐—ฎ๐—น๐—น ๐Ÿฎ๐Ÿฌ.๐Ÿฒ% ๐˜†๐—ฒ๐—ฎ๐—ฟ-๐—ผ๐—ป-๐˜†๐—ฒ๐—ฎ๐—ฟ

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 donโ€™t have to fear with the right broker on your side.

The team at Sonam Capital are here to empower you through financial knowledge. Weโ€™ll 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.

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