From 1 March 2021, builders will be able to use The Building and Construction Industry Security of Payment Act to recover money owed by homeowners. The Master Builders Association of NSW has been advocating this for many years as non-payment by homeowners causes considerable financial stress and even insolvencies amongst
CoreLogic’s national home value index rose 0.9 per cent over the first month of 2021, taking Australian housing values to a fresh record high. Values have now surpassed pre-COVID levels by 1.0 per cent, and the index is 0.7 per cent higher than the previous September 2017 peak. Every capital
Australia’s housing markets are starting the new year on a strong footing after building momentum through the end of 2020, new figures show. CoreLogic’s national home value index rose 1.0 per cent in December, the third consecutive monthly rise following a 2.1 per cent drop between April and September. Perhaps
The Morrison Government has agreed to expand the HomeBuilder Grant into 2021. Some relevant changes, in essence, are: A $15,000 grant for building contracts (new builds and substantial renovations) signed between 1 January 2021 and 31 March 2021, inclusive. An extended deadline for all applications to be submitted, including those applying for the $25,000
The National Australia Bank monthly business survey showed its conditions index rose by a further six points in September, buoyed by its trading and profitability sub-indices. “After some volatility in the two months, conditions are around the level seen pre-COVID,” NAB group chief economist Alan Oster said. “Employment continues to
The housing market continues to look strong, NAB Group Economists said this week. NAB’s July 2020 Australian Housing Market Update reports that the past month has seen a further improvement in housing market activity from both a sales and listings perspective, although home values continued to drift lower across most
It’s no secret that the Australian real estate market has stagnated due to the COVID-19 pandemic. However, in an attempt to assist the residential construction market to bounce back from the crisis, the Australian Government has actively decided to provide funding to encourage the commencement of new home builds and
The extreme heat over the summer months and ongoing drought brought the worst bushfire season we have seen in Australia, destroying houses, local businesses, vegetation and wildlife. The impact was felt further than by those directly in line of the fires, however, and it has meant that Australians everywhere are
Deciding between whether to renovate or sell your home and move is a question for our hearts as much as our heads. Moving to a new place can be an expensive and time-consuming process but a new location can be exactly what you need. On the other hand, sprucing up
Tradies and builders in NSW will be allowed to work extended hours after the state government eased restrictions to help businesses survive the coronavirus pandemic. Minister for Planning and Public Spaces Rob Stokes introduced the “extraordinary orders” under the Planning Act last Thursday, 2nd April. Building sites will now be
