Australia experiencing the worst year for home building since 2011
Data from the ABS paints a grim picture for the national target to build 1.2 million new homes
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Building approvals fell again in August, as the Federal Government’s pledge of providing 1.2 million new homes looks more out of reach than ever.
The Australian Bureau of Statistics released data today showing total dwelling approvals fell by 6.1 percent in August to 13,991. While approval for houses rose 0.5 percent, the non house sector — apartments and townhouses — experienced a massive fall of 16.5 percent to 4,418.
Master Builders Australia reported that the latest decline in approvals contributed to 2023-2024 being the worst year for home building in more than a decade.
“Detached house starts fell by 10.1 percent, while higher density commencements were down by 6.0 per cent,” said Master Builders Chief Economist Shane Garrett. “If building continues at this pace, we’ll be in for less than 800,000 new home starts over the next five years.
“This would mean a shortfall of over 400,000 homes compared with the National Housing Accord target.”
Master Builders Australia CEO Denita Wawn said the data comes on the back of figures from the National Centre for Vocational Education Research which showed an alarming shortfall in the number of apprentices entering the industry and then completing their qualifications. Apprenticeship commencements fell 11.8 percent in the year to March 2023 while completion rates fell 8.6 percent over the same period.
“Today’s data releases aren’t unrelated,” Ms Wawn said. “To bring Australia out of the housing crisis we need to drastically increase the supply of housing and we can’t do that while we’re simultaneously suffering through a labour shortage.”
She said construction was experiencing a shortage of skilled workers across all trades.
“Until we’re able to address the challenges facing the future of the workforce, we won’t be able to increase building activity and reduce the impact of supply conditions in the residential building market on Australia’s inflation problem,” she said.
Early indications from several big regional real-estate boards suggest March was overall another down month.
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A heritage-listed Federation estate with tennis court, pool and studio, Marika offers timeless elegance and modern family living in the heart of Hunters Hill.
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A grand old dame who has stood the test of time, Marika is a slice of Hunters Hill heritage transformed for modern-day living.
Meticulously renovated between 1981 and 1983, with several updates since, Marika made it onto the heritage register in 1999 just in time to signal a new millennium. Today, the modernised mansion is on the market with an auction price guide of $7.5 million, marketed through BresicWhitney’s Nicholas McEvoy.
“The home is a fantastic opportunity for a discerning buyer to get a grand family estate-style property, with a pool, tennis court and grounds, for a price that’s much more affordable than expected,” McEvoy says.
Sitting pretty on the corner of Augustine St and Ryde Rd, the stately Federation residence occupies a sprawling 2472sq m block, which was once part of a 30-acre land grant handed to Frederick Augustus Hayne in 1835. In 1902, he sold it to Dr Leopold Augustus Carter, a local dentist. Two years later, Marika, then known as “Ryde”, appeared in the famed Sands Directory – the social media of its era – a symbol of its architectural significance.
Surrounded by manicured gardens with sculpted hedges, a pool and full tennis court, Marika is a prime example of Federation style with contemporary elements.
Inside, the single-level five-bedroom home showcases intricate craftsmanship, from its decorative gables, period archways and bay windows to the coloured glass panels on multiple doors and windows. Elegant formal rooms have high ornate ceilings that are a preserved nod to Marika’s past, while the more modern spaces are relaxed family-friendly zones.
Thanks to a pavilion-style addition, the L-shaped layout measures 450sq m internally and wraps around a central courtyard that plays host to the alfresco dining terrace and pool, while a wide veranda frames the original front rooms of the house.
Primary living spaces, including the dining area with integrated bar, open to the great outdoors via stacker doors and the 21st century kitchen has a large island bench and a butler’s pantry with hidden access to the triple lock up garage. There is also a dedicated media room, a library or home office, plus a separate family room with a beautiful bay window.
All bedrooms feature built-ins while the main retreat, and a second bedroom, have shower ensuites. The shared bathroom houses convenient twin vanities and a freestanding bathtub.
Beyond the interiors, Marika delivers resort amenities with a full-sized, floodlit tennis court, the pool, barbecue terrace and a self-contained studio apartment with the added bonus of Harbour Bridge glimpses.
Added extras include a converted loft storage space, a large laundry with side yard access, ducted air conditioning, multiple fireplaces, solar panels with a battery backup and modern insulation.
Accessed via Augustine St, Marika is close to St Joseph’s College, Boronia Park shops, local ovals and city transport.
Marika at 59 Augustine St, Hunters Hill is set to go under the hammer on April 26, on site at 9am with a price guide of $7.5 million. The listing is with Nicholas McEvoy and Narelle Scott of BresicWhitney Hunters Hill.
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