• The highest level of dwelling starts (nationally) since records began was achieved in the September – December 2014 quarter.

  This a a great sign of market health for potential owner builders.

  There was a huge and historic lift in dwelling commencements with an all-time record high of 54,400 starts

  In seasonally adjusted terms, starts jumped a massive 12.5 per cent in the September quarter, with strong increases in NSW, Queensland and the ACT

  The record highs are predominantly driven by multi-unit dwellings with New South Wales, Victoria, Queensland, and Western Australia recording their strongest ever quarters.

  Tom

Good news for Owner Builders / Residential Building

-Interest Rates to Remain Very Low in 2015

-The annual rate of inflation fell sharply during the December 2014 quarter, reinforcing the prospect of a low interest rate environment for the foreseeable future

-The headline rate of inflation dropped to 1.7 per cent during the December 2014 quarter, the lowest inflation rate since mid-2012.

-The big drop in oil prices over recent months is helping to restrain cost of living pressures. Fewer price pressures in the economy mean that a policy of very low interest rates is both justified and necessary. This is against the backdrop of below trend economic growth and unemployment persistently above 6 per cent.

Source : HIA

Tom

NSW home building remains Strong

Positive news for Owner Builders.

In a record November national result, total seasonally adjusted residential building approvals in NSW fell in November 2014.

Despite a very modest decline in approvals in the month of November, the overall level of activity in NSW remains very healthy and points to a good start to 2015 for the residential construction industry.

Tom

New Owner-builder laws – January 15 , 2015

• Owner-builders will be required to name all other owners of the land on an application for an owner-builder permit. This will be recorded on the permit to prevent people using this system to carry out commercial unlicensed building work. Any owners named cannot apply for another owner-builder permit for a different property for 5 years.
• Owner-builders will be prohibited from getting a permit for a dual occupancy except in special circumstances.
• Owner-builders will not be able to get statutory insurance although contractors working for the owner-builder will still need to provide certificates for work over $20,000. If the property is sold within the warranty period, the contract for sale must clearly state that there is no statutory insurance on the property.
• The threshold for requiring an owner-builder permit has increased to work valued over $10,000. All owner-builders must provide evidence of having done basic work health and safety training, and for work over $20,000 they will need to do an owner-builder course.

Tom