Tasmania housing figures 'are abysmal'

Recent figures released by the Australian Bureau of Statistics showed that house building approvals in Tasmania were down by 12 per cent in May.

This result looked even worse when compared with the overall 27.3 per cent upturn in construction activity throughout the nation as a whole and the Housing Industry Association (HIA) has labelled Tasmania's performance as "abysmal".

Executive director of the organisation Stuart Clues believes that more needs to be done to get building contractors working again. The property market has been very slow since the global financial downturn in 2008-09, with many Aussies reluctant to take on a home loan.

Mr Clues stated that the government's First Home Owners Grant Boost (FHOG Boost) has worked well in the past and this should be reintroduced in Tasmania in order to get things moving.

"Based on the results of the Federal government FHOG Boost during the global financial crisis we could easily see another 500 homes being built over the next 12 months," he remarked.

Home ownership has long been seen as the Australian dream, but getting on to the property ladder has proven to be more of a nightmare for many people in recent times.

Census data released by the Australian Bureau of Statistics last month showed that a greater number of Aussies are being priced out of a new home, with many being forced to rent instead.

This is far from an ideal situation, as renters are essentially giving money away that could be put towards their own property. Unfortunately, a lot of potential first-time buyers do not have any other option because of the sizeable deposits that are required to secure a mortgage.

There is hope though and comparing home loans online is the best way to find an agreeable package. You will be surprised just how many different providers there are and how their rates vary.

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