“Sales since the end of HomeBuiIder are the strongest they have been since 2017 when over 115, 000 detached homes commenced construction, ” Mr Reardon said.
“This strong level of home building activity suggests that the current boom in residential construction will be sustained throughout 2022. ”
The residential construction sector will continue to remain busy next year, as pent-up demand due to the lockdowns rolls out.
Housing Industry Association chief economist Tim Reardon said it appears the interest towards lower density housing remains heightened and will continue
to be so over the coming year.
"This shift is notjust those in units moving to detached housing but includes a shift to fewer people per household," he said.
Over the three months to October 2021, sales of new homes increased significantly in Western Australia (45.8%) and New South Wales (42.3%).
Queensland also recorded a decent growth of 2.1% during the period, while South Australia and Victoria reported declines.
Overall, new home sales across Australia increased by 11.1% during the period.
Article Source; Gerv Tacadena, Busy Residential Construction Predicted For 2022, Your Investment Property, November, 2021. Image Source; Josh Olaide, Pat Whelen
