Mr GUNNER - 2010-08-18
Building approvals data is a key indicator of the health of the construction sector of the economy. Can you please outline to the House the growth in building approvals across the Territory?
Mr Elferink interjecting.
ANSWER
Madam Speaker, I thank the member for Fannie Bay for his question, even though the member for Port Darwin finds building approvals a laughing matter.
The Territory is recording strong growth in building approvals with a 36% rise in building approvals in the past 12 months. The rate of building approvals in the Territory is trending upwards compared to a national decline. Over the past 12 months, residential building approvals are up across housing and unit construction, worth an estimated $551m. One of the big contributors to this is the nation building program through significant investment in public housing with some 196 unit approvals. Private unit approvals have also increased by 47% indicating a recovery in that market following very tight credit conditions during the global financial crisis and post the GFC into recovery mode.
Critically important was the Australian Labor government’s First Home Owner Boost which was part of the stimulus response which contributed to growing residential construction. That First Home Owner Boost was an initiative under the Rudd stimulus plan. The Treasurer, Wayne Swan, moved very swiftly in understanding the importance of getting the first homeowners into the marketplace. The scheme boosted the first homeowner grant from $7000 to $21 000 for new homes to boost new housing construction. The scheme stepped down to $14 000 to the end of last year as part of that phasing out of the stimulus.
The boost scheme supported 1728 Territorians into their first home. It also supported the construction of some 359 new homes across our Territory. This was a great initiative to help first homebuyers into their first homes and, at the same time, stimulate housing construction at the time of economic uncertainty.
This was an initiative, shamefully, not supported by the CLP. Their man in the Senate, Nigel Scullion, was against it ...
Members interjecting.
Madam SPEAKER: Order! Order! Member for Port Darwin! Member for Fong Lim!
Ms LAWRIE: The bully boys cannot help themselves, Madam Speaker.
Members interjecting.
Madam SPEAKER: Order!
Ms LAWRIE: The 36% increase in building approvals indicate a very healthy pipeline of work for builders and suppliers; a pipeline of work that will continue to grow with the first stage of Johnston and the further developments at Bellamack soon to flow through these building approvals.
Mr Elferink interjecting.
ANSWER
Madam Speaker, I thank the member for Fannie Bay for his question, even though the member for Port Darwin finds building approvals a laughing matter.
The Territory is recording strong growth in building approvals with a 36% rise in building approvals in the past 12 months. The rate of building approvals in the Territory is trending upwards compared to a national decline. Over the past 12 months, residential building approvals are up across housing and unit construction, worth an estimated $551m. One of the big contributors to this is the nation building program through significant investment in public housing with some 196 unit approvals. Private unit approvals have also increased by 47% indicating a recovery in that market following very tight credit conditions during the global financial crisis and post the GFC into recovery mode.
Critically important was the Australian Labor government’s First Home Owner Boost which was part of the stimulus response which contributed to growing residential construction. That First Home Owner Boost was an initiative under the Rudd stimulus plan. The Treasurer, Wayne Swan, moved very swiftly in understanding the importance of getting the first homeowners into the marketplace. The scheme boosted the first homeowner grant from $7000 to $21 000 for new homes to boost new housing construction. The scheme stepped down to $14 000 to the end of last year as part of that phasing out of the stimulus.
The boost scheme supported 1728 Territorians into their first home. It also supported the construction of some 359 new homes across our Territory. This was a great initiative to help first homebuyers into their first homes and, at the same time, stimulate housing construction at the time of economic uncertainty.
This was an initiative, shamefully, not supported by the CLP. Their man in the Senate, Nigel Scullion, was against it ...
Members interjecting.
Madam SPEAKER: Order! Order! Member for Port Darwin! Member for Fong Lim!
Ms LAWRIE: The bully boys cannot help themselves, Madam Speaker.
Members interjecting.
Madam SPEAKER: Order!
Ms LAWRIE: The 36% increase in building approvals indicate a very healthy pipeline of work for builders and suppliers; a pipeline of work that will continue to grow with the first stage of Johnston and the further developments at Bellamack soon to flow through these building approvals.
Last updated: 09 Aug 2016