New figures out this week from the Housing Industry Association confirm that the pent up demand and the HomeBuilder government stimulus program is showing a huge increase in new home sales for this quarter.
Following the collapse of this particular part of the market when COVID hit in April and May, the three months to August show a massive 61.3% turnaround and WA leads the charge with a whopping 91% bounce in the last six months compared to a year earlier.
When combined with the government $25,000 grant for major home extensions, other state stimulus programs and First Home Owner grants the uptick for the whole of the residential construction industry bodes well for everyone keeping busy well into 2021.
According to a HIA September report there has been a 30% increase in the number of loans issued for the purchase of residential land for the second month in a row.
HIA Chief Economist, Mr Tim Reardon, reports that this increase is strong across all states; even Victoria, which is still in lockdown is up 35.3%.
Typically, residential construction involves more tasks and a wider cross section of different trades than commercial or infrastructure projects and the slabs being poured in the December quarter will be excellent for the whole construction industry.
Tradies will be busy well into 2021, and now is a good time to stock up on tools and equipment before the rush at the end of the year. Incoming stocks for a lot of tool and hardware suppliers have been more spasmodic this year due to the effect of the pandemic on both supply chain and shipping and tradies are advised to get what they need as soon as possible.
Imex has a full range of professional laser levelling and measuring equipment and with some models recently upgraded, now is the time to get the latest equipment to increase efficiency going forward.