March 17, 2010, Australia – In 2009 the new houses for sale in Australia has recently reported to have a lower percentage because of its decreased on share of new finance. Even the bank lend a large amount of money to most of the investors, the percentage with new houses for sale in Australia has still showed shortage.
Indeed the population increased into 443,000 in the year to June, but the growth of this doesn’t help the shrinking new housing in Australia with the data to be released next week is accepted to confirm the number of new homes started in 2009 dropped to the lowest level for 13 years.
Bureau of Statistics figures next week will release the new homes sale in Australia between 130,000 and 135,000 homes last year. Less than of this figures were showed last 2009 than in 1969 even though the government’s stimulus measures has given their support. Bureau figures confirmed only 1.7 per cent of new home lending in 2009 went to investors building new housing, a unusual decrease from 11.6 per cent 20 years previously.
Peter Jones, chief economist of Master Builders Australia, said that building 185,000 to 190,000 new homes a year, as its population is growing every year. To have the investment they supposed to have it should be proportion to the number of Aussies.
”The social housing initiative and the work now in the pipeline means 2010 will be a better year, but it’s becoming apparent that it will be nowhere near enough,” he said.
Source: The Sydney Morning Herald News
