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Latest data from the ABS shows the June 2023 quarter saw fewer new homes starting work across Australia than any time over the last decade, says Master Builders Australia CEO Denita Wawn.
During the June 2023 quarter, there was an 11.8 drop in total dwelling starts across the country. Detached house commencements slid by 6.6 per cent while there was a 20.3 per cent plunge in higher density home starts.
“Today’s results confirm that 2022-23 was the weakest financial year for new home building since 2012-13. New detached house starts are 41 per cent down on the peak two years ago,” said Ms Wawn.
“For higher density homes, the loss has been even worse. Compared with the high activity reached during the mid-2010s, activity has sunk by a whopping 55 per cent.
“Rental inflation has deteriorated sharply at a time when higher density home building has moved firmly into reverse gear. This is no coincidence.
“We have not been supplying the rental market with enough new homes since before the pandemic.
“Government policy needs to be working to reverse this negative trend.
“We acknowledge the efforts of the Prime Minister, Treasurer and Housing Minister to prioritise and co-ordinate efforts across the Federation to tackle the housing crisis but there is a real risk the radical industrial relations agenda being pursued by Minister Burke will negatively impact these efforts.
“We need to make it easier for our industry to build the homes we so urgently need.
“A strong building industry is the foundation of a strong economy. The inextricable ties between construction activity and the broader health of the economy are again on display in the current environment.
“We need to be attracting more people to the industry and making it easier to do business, not tie a rope around them.
“The economic success of our nation hinges on a strong building and construction industry,” Ms Wawn said.
Media contact:
Dee Zegarac
National Director, Media & Public Affairs
0400 493 071
dee.zegarac@masterbuilders.com.au