Australia’s residential building boom looks set to continue into 2022, with new figures revealing 191,000 properties will be built next year.
Housing Industry Association senior economist Tim Reardon says 2022 will be one of the best years on record, although not at the same level of 2021 which experienced a huge surge as a result of the HomeBuilder stimulus.
“We will be doing 120,000 next year, so it’s still one of the better years on record,” Reardon says.
Victoria is expected to have the largest number built with a forecast of 37,879 new homes, followed by New South Wales with 25,052, Queensland with 24,660 and Western Australia with 20,223.
There are 9,027 houses expected to be built in South Australia in 2022, followed by Tasmania with 2,461 houses, the ACT with 1,283 and the Northern Territory with 610.
Reardon says the housing industry is still struggling with shortages of materials and availability of tradies.