New research shows Australia’s top residential builders hit a 15-year low for the number of starts last year.
The Housing Industry Australia (HIA)’s Housing 100 report, which tracks the performance of the 100 biggest builders, found a 7.3% drop for FY11/12, bringing the numbers to the levels last seen in 1996.
“This result is consistent with the overall experience of the industry in 2011/12 where new home building conditions weakened considerably across Australia,” said HIA chief economist, Harley Dale.
Melbourne-based Metricon Homes took the title of largest builder for a second year running, creating a total of 2,821 dwellings last financial year.
Again, the HIA called for reform to government policy to kick-start construction.
“Sadly, evidence of the will to execute such policy action remains far slimmer than Australia requires,” said Dale.