Wangaratta Chronicle 220223

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Wednesday, February 22, 2023

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GUIDE

READY TO RIDE THE RoadSafe North East Bike Education program is off to a great start this year with students at Yarrunga Primary School including (from left) Lily Britton, Indie Hickson (with RoadSafe North East bike educator Glenn Clarke), Jack Simpson and Benji Gardner, among those enjoying the opportunity to learn how to ride safely, be confident and have fun. Story page 2. PHOTO: Kurt Hickling

Country Week victory Sport

Housing boom bust ONE profession that accelerated during the doom and gloom stages of the pandemic was the building industry, with the HomeBuilder and renovation grants in the 2020-21 financial year creating massive demand. But the purple patch is tapering off with houses approved for construction down 21.8 per cent nationally last calendar year. The Housing Industry Association (HIA) reported

Wangaratta g building g approvals pp p plummet byy 63 homes in a yyearr BY STEVE KELLY skelly@ nemedia.com.au

the decline can also be attributed to the rising cost of construction, a change in consumer demand for more living space, and rising interest rates, which it warns the Reserve Bank, will impact employment to

a not yet realised extent. In Wangaratta, building approvals jumped from 147 in 2019-20 to 205 in the 2020-21 year, but last financial year they returned to 142 approvals as the HomeBuilders grant expired. Under the scheme, eligible homeowners could apply for grants of $25k for renovations and new constructions valued between $150k and $750k.

for 142 houses.” The decline continues nation-wide with the Australian Bureau of Statistics releasing monthly building approvals data recently for December. “This data included a 2.4 per cent decline in house approvals in December 2022, to 8989, the second weakest monthly performance in the last twoand-a-half years,” HIA chief

Stephen Swart, Wangaratta council director sustainability and culture, said local building approvals have fluctuated over the past three financial years. “The number of houses approved in the Rural City of Wangaratta in the 2021-22 financial year was more reflective of the average levels of approvals in the preceding decade, with building approvals issued

economist Tim Reardon said. “Much of the decline between 2021 and 2022 was the expected consequence of the end of the HomeBuilder grant in 2021. “The market was also cooling as the cost of construction rose, and the change in consumer preferences due to the pandemic desire for space, eroded.” ■ Continued page 2

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