ACIF forecasts highlight industry is still being impacted by COVID-19

Australian Construction Industry Forum (ACIF) forecasts published today outline that COVID-19 and the measures that have been taken to control its spread, have sent the message to hold or defer many new building projects. The ACIF Forecasts highlight that work done will fall again this year, decreasing 3.2 per cent over 2020-21.

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November 2020 Newsletter

Record High in New Loan Commitments for Housing – The total value of new loan commitments for housing and the value of owner occupier home loan commitments each reached record highs in October 2020. The total value of new loan commitments for housing rose 0.7 per cent to $22.7 billion in October, seasonally adjusted.

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The Cost of Being Hacked

An email was intercepted between a tradie and a builder. An attached invoice from the tradie was doctored and $51K went to a hackers bank account.

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How are Australia’s states and territories performing?

Each quarter, CommSec attempts to find out how are Australia’s states and territories performing. They do this by analysing eight key indicators: economic growth; retail spending; equipment investment; unemployment; construction work done; population growth; housing finance and dwelling commencements. Just as the Reserve Bank uses long-term averages to determine the level of “normal” interest rates; CommSec have done the same with the economic indicators.

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October 2020 Newsletter

The number of loans for the construction of a new dwelling increased by 27.1 per cent in the month of September 2020. This is the highest result since the Australian Bureau of Statistics (ABS) commenced collection of this data in 2002. The ABS building approvals, released on 3 November, which is a more lagged indicator of future building work shows the third strongest month of approvals for detached houses in the past 16 years.

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