The Housing Institute of Australia is confident that the strength of the housing sector will be an important factor in stimulating growth in the economy. This came after the sector made its largest contribution to the economy in over a decade last year, and this is only the beginning.
In spite of the optimism, the HIA has also warned that overall recovery can only be attained if the labour sector catches up with the developments in the housing sector. They also criticized the government for excessive taxation on housing, as lowering this down will result in more affordable homes to meet the strong demands for property.
Read more about this on the Adviser website.