Housing approvals decline by 7.5 per cent over past 12 months

The latest Australian Bureau Statistics data reveals that the number of houses approved in South Australia declined by 7.5 per cent over the last 12 months.

“Sadly it is clear that many SA families struggling with high state taxes and the rising cost of living simply can’t afford to build new homes,” said Shadow Minister for Housing and Urban Development Vickie Chapman.  

“More needs to be done to stimulate consumer demand in South Australia to encourage economic growth.  

“However, the danger for our economy is that South Australia’s unemployment problems and declining home building industry form a vicious circle each feeding the other.  

“South Australia is now in the unenviable position of having the highest unemployment, youth unemployment and underemployment rates in the nation.  

“The Weatherill Labor Government must improve job opportunities for young people in South Australia.  

“If not, we run the risk of even more young people leaving South Australia for better job opportunities interstate.  

“From June 2014 to June 2015, 3,763 people left South Australia to go interstate.  

“That’s 3,763 people who are not building houses in South Australia.  

“South Australia is stuck in an economic rut and the Weatherill Government is clueless as to how to lead us out of it.”