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๐—ก๐—ฒ๐˜„ ๐—•๐˜‚๐—ถ๐—น๐—ฑ๐˜€ ๐—™๐—ฎ๐—น๐—น ๐Ÿญ๐Ÿณ.๐Ÿฐ%

Disappointing news for those eager to see an increase in Australia's housing supply, with the number of new builds continuing to decline.

A total of 37,116 residential building projects started in the September 2023 quarter (see graph), which was 17.4% lower than the year before, according to the latest data from the Australian Bureau of Statistics.

At the same time, 44,093 homes were completed in the September quarter, which was 1.2% higher year-on-year.

The federal government wants to improve housing affordability by facilitating the construction of 1.2 million new homes in the five years from July 2024. However, only 920,398 homes were constructed in the past five-year period. So the government will need to work hard to hit its target.

Subiaco finance brokers are here to help

Interest rate rises are here, but you donโ€™t have to fear with the right broker on your side.

The team at Sonam Capital are here to empower you through financial knowledge. Weโ€™ll take the time to get to know you and your unique situation and speak in a language you can understand, with strategies you can implement for the best possible outcomes.

Nick, Wayne and Amanda at Sonam Capital are your Subiaco finance specialists.

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