Home ownership is the cornerstone of the great Australian dream, as it can provide financial and emotional security for households and typically represents their largest lifetime investment.
Industry revenue totals about $37.9 billion in 2012-13, an increase of 1.1% on the previous year as new housing investment gradually recovers under the pressure of pent-up underlying demand for accommodation, and lower mortgage interest rates. Over the five years through 2012-13, revenue is expected to decline by an annualised 2.0%, corresponding with the decline in the value of new single-unit housing construction (2.1%), and falling new housing starts (down 3.9% to 88,000 units).
This industry consists of establishments mainly engaged in the construction of houses (except semi-detached houses) or in carrying out alterations additions or renovation or general repairs to houses, or organising and managing these activities as the prime contractor.
The report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecast, growth rates and an analysis of the industry key players and their market shares.