Latest NewsBuilding Boost Forecast As First Home Buyers ReturnTuesday, 09 May 2017

A return of first home buyers to the property market is expected to lift residential building activity next financial year, says BIS Shrapnel.

The research firm expects new housing starts to rebound by 6 per cent nationally in 2011-12, propelled by stable interest rates, rising rents from housing shortages, and a pick-up in first home buyer activity due to employment and income growth.

In a briefing yesterday on building industry prospects, BIS Shrapnel said new housing starts were forecast to fall by 3 per cent this financial year after a 26 per cent jump in 2009-10, when the federal government's first home owner's grant scheme stimulated demand.

''The rise in first home buyer demand is expected to result in increased turnover across the board as upgraders will have a stronger market to sell their existing dwelling into,'' the report said.

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