Top 5: Finance & property quotes week commencing December 15

By the resi financial blog team, 22 December 2014

Top 5: Finance & property quotes week commencing December 15

As the New Year looms closer by the day, Australia's property market continues to move towards a stronger industry in 2015. Some of the most notable statements from public figures over the last week have revolved around new plans for development, construction and renovation across the nation's various markets. 

#1. Housing Industry Association (HIA) Executive Director for New South Wales David Bare commented on the new Sydney development plan in a December 15 statement, offering some insight into the strength of the New South Wales capital's future.

"HIA has been calling for housing supply targets that actually reflect true underlying and future demand. A Plan for Growing Sydney delivers on this aspect because the entire strategic plan is based on meeting the future needs of Sydney's growing population.

"... The focus on urban renewal and infill in a planned fashion is long overdue in housing delivery in Sydney. Increasing the opportunities for housing type diversity and enabling subdivision of existing homes for higher density outcomes is also welcomed." 

#2. Commenting on the latest Real Estate Institute of New South Wales (REINSW) Vacancy Rate Survey, REINSW President Malcolm Gunning highlighted the need for more rental property supply in Sydney in a December 17 statement. 

"Declines in the inner and middle Sydney were leveled out by the increase in the outer areas. The lows in inner Sydney have not been seen since February 2013. It is a third month in a row that vacancy rates have been stable at 1.7 per cent."

#3. Recovering renovation figures have been recorded across the nation, with HIA Senior Economist Shane Garrett pointing out in a December 18 statement that 2015 will see some significant increases in this sector. 

"Latest indications suggest that the market is starting to turn for the better, with renovators modestly optimistic for the year ahead. Activity is benefiting from a prolonged period of very low interest rates and growth in home prices over the past eighteen months.

"... From now until 2018, renovations activity will expand by about 10 per cent. This will take the value of the renovations market to $31.25 billion." 

#4. The Green Building Council of Australia's Chief Executive Officer Romilly Madew said in a December 16 statement that the number of Green Star projects certified over the last 12 months grew to 150, highlighting the growing popularity of sustainability across the nation. 

"This 43 per cent increase in certifications in the last year is a reminder to the industry that efficiency, productivity and sustainability are here to stay. What's more, 115 new Green Star projects were registered over the course of 2014, which is an encouraging sign for 2015." 

#5. RP Data Senior Research Analyst Cameron Kusher highlighted in a December 16 blog post a series of factors to watch next year that may impact the housing market, highlighting the growth in dwelling approvals over the last two years. 

"Although dwelling approvals have eased over recent months, over the 12 months to October 2014 there were 197,529 dwelling approvals, which is hovering around the highest annual number on record.  On a monthly basis dwelling approvals peaked in January 2014 and although they remain high, they have trended lower." 

Categories: Home Loans, Property Investment