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API SEPTEMBER 2014
SEPTEMBER 2014 API
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“How to get
163 Metropole.indd 1
14/07/14 1:56 PM
WA top for residential building
Western Australia has topped the list for residential building across
the country, according to a new report.
The Housing Industry Association (HIA) Housing Scorecard Report
benchmarks the contemporary performance of 14 key indicators of
activity in residential building against long-term averages in each
state and territory.
“Western Australia has once again topped the rankings,
remaining the strongest residential building market in the country,
ahead of New South Wales. There’s daylight between the two
strongest states and the rest of the pack,” HIA chief economist
Harley Dale says.
“Amongst the other states, the Australian Capital Territory, Victoria
and the Northern Territory are clustered closely together in the
middle of the pack. South Australia and Queensland are still just off
the pace, but there were some improvements in both those states.”
According to the report, Tasmania remains the weakest residential
building market in the country.
“This is an unenviable position the state has now held for six
consecutive quarters. There have been some signs of improving
conditions in the Tasmanian economy, but we’re yet to see this flow
through into the residential building sector,” Dale says.
“The rapid turn of fortunes in NSW is the big story in this report.
Six months ago we noted there was momentum building in NSW
and this has been confirmed by the latest analysis.
“NSW is now the second strongest residential building market in
the country, having been ranked number
five only six months earlier.”
Dale says much of the NSW recovery can
be attributed to the surge in activity in the
multi-unit sector as well as the detached
“The renovations market remains a soft
spot for NSW, but there are signs that
conditions in this part of the market
NATIONAL RANKING SUMMARY
*A decline in a state score of more than five is considered to be indicative of declining
momentum. An increase of more than five is considered positive momentum and any
positive or negative movement of less than five is considered neutral.
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