Conditions in Western Australia's residential building industry are currently the strongest in the country
Housing Scorecard: WA Tops the Table
The Housing Industry Association, the voice of Australia’s residential building industry, today released the inaugural edition of the Housing Scorecard report.
"Conditions in the residential building industry diverge widely both across and within states and territories. Housing Scorecard aggregates large amounts of housing information to present a concise account of the influences these divergences have on industry performance," said Harley Dale, HIA Chief Economist.
The newly created report benchmarks the contemporary performance of thirteen key indicators of activity in residential building against long term averages in each state and territory. This analysis is aggregated in a scoring system to generate a league table ranking the relative strength/weakness of residential building conditions in each jurisdiction.
"Conditions in Western Australia’s residential building industry are currently the strongest in the country. Mining investment and strong population growth have seen WA’s economy growing quickly, but until recently residential building had been stuck in the slow lane. The stronger conditions more recently have taken WA to the number one position for the first time in over five years," said Harley Dale. "The Australian Capital Territory currently holds down second position, with Victoria in third."
"A very encouraging finding is that the resurgence underway in New South Wales’ residential building industry is lifting the state up the table after spending the best part of the last decade in the wilderness. New home building has been the driver of this outcome, but weaker conditions in the renovations segment have held back the state’s charge up the table. Overall, residential building conditions in NSW still rank only fifth nationally, but there is clearly some positive momentum there," commented Harley Dale.
