An almost 10 per cent jump in housing starts has demonstrated the power of government handouts to motivate buyers.
Figures just released by the Housing Industry Association for the September quarter show a 9.5 per cent increase in the construction of homes in NSW. The national figure was 2 per cent.
The HIA's economist, Geordan Murray, says NSW home buyers rushed to sign on the dotted line before June 30 last year to benefit from stamp duty savings of up to $22,500 on new homes priced up to $600,000.
''Along with lower interest rates, the impact of the NSW Home Builders Bonus ending on June 30, 2012, is the most likely driver of the strong improvement in the detached dwelling starts in NSW,'' Mr Murray said.
From July 1 last year, the stamp duty savings applied only to first home buyers buying new properties, with investors and upgraders having to make do with a $5000 grant.
The director of Casaview Homes, Frank Garzaniti, confirmed the rise in sales and subsequent construction, which he also attributed to the June 30 cut-off. ''I think that did make a difference, definitely,'' Mr Garzaniti said.
His company offers house and land packages in Sydney's west, but Mr Garzaniti says he has yet to see any evidence that the O'Farrell government's $15,000 grant for first home buyers buying new property - which started on October 1 - had led to increased building starts.
Quick question , if constrictions booming, and most in nsw as they say here, then why did boral lay off 700 workers only last week with the majority of job loses in NSW, again the facts dont match the bullshit .
So much for your construction boom shadow, whats the saying, easy come,easy go........
A line pointing to the moon, what does it mean? I expect the bears will rally shortly to tell us it means approvals are through the floor with no end in sight.
Ignore posts by The Whole Truth · View Post · End Ignoring The forum fuckwit goes RRRAAARRRGGHHhhh - But not a fuck was given..................by anyone.
Considering this thread was started in Aug 2011, is this the boom you were talking about back then or just more speculation?
Same one.
I first predicted it back in 2007, when I said I expected the Sydney construction boom to kick off around 2011.
Judging by the chart above, it actually began early 2012, so I was a month or two out, but still, not bad considering I predicted it 5 years in advance...
I first predicted it back in 2007, when I said I expected the Sydney construction boom to kick off around 2011.
Judging by the chart above, it actually began early 2012, so I was a month or two out, but still, not bad considering I predicted it 5 years in advance...
That was lucky. Good thing you did. I guess at some point in the future you would have been right. Good thing you capitalized on it too. That way your money would have been where your mouth was. Good job!! You are the winner.
That was lucky. Good thing you did. I guess at some point in the future you would have been right. Good thing you capitalized on it too. That way your money would have been where your mouth was. Good job!! You are the winner.
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