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GDP growth slows as home building peaks The latest figures from the ABS show that investment in new home building reached a record high in the 2014/15 fiscal year, but activity eased in the June 2015 quarter which had a negative impact on Gross Domestic Product growth, noted the Housing Industry Association, the voice of Australia’s residential building industry. ‘The residential building sector performed strongly throughout the 2014/15 fiscal year. In annual terms there was $52.2 billion of investment in new home building during the year which was a new record for the sector,’ said HIA Economist, Geordan Murray. ‘From a quarterly perspective the result wasn’t quite as strong. After reaching a record in the March 2015 quarter, the level of investment in new home building declined by 1.9 per cent in the June 2015 quarter but remains around 10.4 per cent higher than the June quarter a year ago. ‘The level of investment in home renovations continued to improve in the June quarter. Following on from a particularly poor run through-
out 2013 and 2014, renovations investment has posted a third consecutive quarter of growth, up by 0.4 per cent in the quarter, and recorded the strongest level of activity since mid-2012. ‘The strong growth in new home building over the last few years has made a significant contribution to GDP growth. However, residential building activity is currently tracking at record levels and leading indicators are suggesting that the sector is close to a peak in the current building cycle. Despite the strong level of activity, the modest decline in the level of residential building detracted from GDP growth in the quarter. ‘There is a large volume of activity in the pipeline that should sustain an elevated level of home building for some time yet; however, it is unlikely that residential building will continue to make the strong contributions to GDP growth that it has done over the last couple of years. In order to see a sustained economic recovery we must see broader improvements in private investment beyond residential building.’Â
MARK COCHRANE
Auction this Saturday
REAL ESTATE
mullumbimby
N IO CT AU Mullumbimby 22 Azalea Street
Mullum Surprise We love surprises and every now and then you walk into a home and go wow! Recently renovated, with a touch of modern convenience, while maintaining many of the period features you have come to love in a traditional Mullum style timber home. Polished timber floors and 9ft ornate ceilings Great light filled open plan, lounge, dining and kitchen, 2 modern bathrooms and a spacious central kitchen Additional downstairs tiled games or media room Large north facing verandah enjoying the beautiful tree lined street scape On fully fenced 614m2 of land, conveniently located‌
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Across the road from the river, a stroll to parks, tennis court and town centre Owners ready to sell. Be quick – this may not last to auction Auction: 12pm onsite – September 19th Address: 3 Tincogan St, Mullumbimby View: Saturday, 12th September 12.00–12.45pm
Paul Eatwell Mobile: 0414 466 111 Email: paul@promullum.com.au
59 Burringbar Street, Mullumbimby 6684 2615 www.professionalsmullumbimby.com.au
18 September 9, 2015 The Byron Shire Echo
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AUCTION – EVERY DAY IS A HOLIDAY Desirable north aspect, Mt Chincogan views, View 5IVSTEBZ ° BN BDSF ªTQBDF GPS GBNJMZ BOE GSJFOET UP Auction 11am 12 September at at FOKPZ 0OF PG UIF GJOFTU TUSFFUT JO UIF BSFB RSL Auxiliary Hall, Brunswick Heads 8BML UP UPXO TDIPPM HPMG BOE CPXMT Contact David Mutkins • CFESPPNT MBSHF PGGJDF CBUISPPN ªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªªª 0421 906 460 • Polished hardwood floors, high ceiling, A/C, TQBDJPVT EFDLªªªªªªªªªªªªªªªªªªªª ªªªªªª • Resort-style pool, solar power, solar hot XBUFS TUPSBHF ªªªªªªªªªªªªªªªªªªªªªªªªªªªªª • Self-contained studio, ideal for guests or LJ Hooker #SVOTXJDL )FBET SFOUBM JODPNFª
ljhooker.com.au All information contained herein is gathered from sources we consider to be reliable. However we cannot guarantee or give any warranty about the information provided and interested parties must solely rely on their own enquiries.
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