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Leading indicators of home building activity continue to show that market confidence in new home building is returning, as new home sales stabilise, and house approvals rise. Source: Timberbiz The HIA New Home Sales report is a monthly survey of the largest volume home builders in the five largest states and is a leading indicator of future detached home construction. “New home sales in September were unchanged compared to August, which leaves sales over the past twelve months higher by 8.6% compared to the previous year,” HIA Economist Maurice Tapang said. “The increase in sales in South Australia, Western Australia and Victoria offset the monthly decline in sales in NSW and Queensland in September. “Consumer confidence is slowly trickling back into the Australian economy, with the most recent Westpac-Melbourne Institute measure showing the best result in over two years,” he said. “This improvement in consumer confidence will take time to trickle through new home building, as consumers get greater certainty with interest rates and economic conditions. “Consumers tend to bide their time when it comes to big-ticket purchases, such as buying a new home, especially in a downward cycle. “Leading indicators of home building activity continue to suggest that the market has already reached its trough sometime in mid-2024, even as NCC changes distort and obscure the data. “New home sales in South Australia increased by 32.4% compared to August. NCC changes took effect from 1 October 2024 and pulled forward sales into September. “As was consistent in NSW in September 2023 and Queensland and Victoria in April 2024, this will likely leave a shadow of demand in sales in the months that followed. “While it remains to be seen, strong demand for housing will likely keep this pull-forward relatively modest, as economic and household conditions improve. “Strong population growth, low unemployment, real wages growth and the prospect of no further increases to interest rates will drive new home building activity out of the downward cycle,” Mr Tapang said. New home sales in the September quarter 2024 were 3.9% lower compared to the same time in the previous year, which is distorted by the strong pull forward in sales in NSW in September 2023. Sales in Queensland in the September quarter 2024 rose by 50.2% compared to the same time in the previous year, the strongest annual increase. This was followed by South Australia (+18.5%). The other states recorded declines in sales, led by NSW (-25.5%), followed by Western Australia (-18.4%) and Victoria (-11.7%).

Victoria’s government is seeking feedback on draft updates to the Code of Practice for Bushfire Management on Public Land. Source: Timberbiz A consultation is live on Engage Victoria for the community to have its say on draft updates to the code. The Code of Practice for Bushfire Management on Public Land 2012 (amended 2022) is a legislative instrument made under the Conservation Forests and Lands Act 1987 (CFL Act). It supports DEECA to meet its legislative responsibilities for fire prevention and suppression in State forests, national parks and on protected public land. The current code is 10 years old and is due to expire in December. Updates to the code will ensure bushfire management on public land in Victoria meets modern needs and expectations and will align the code with current bushfire management policy and practice, including Victoria’s Bushfire Management Strategy. The Bushfire Code only applies to national park, State forest and protected public land. It does not impose responsibilities on individuals Updates to the Bushfire Code will help to: Outline how we work with other agencies to collectively manage bushfires. Reflect the different ways we manage different landscapes (e.g. through Fire and Fuel Management Zones). Expand the scope of the Bushfire Code to reflect the range of bushfire management tools. Embed Victoria’s commitment to Aboriginal self-determination in bushfire management. Track and report on our progress against Victoria’s monitoring, evaluation and reporting framework. Align the Bushfire Code with key strategic and operational documents. This includes Victoria’s Bushfire Management Strategy and the State Emergency Management Plan The Bushfire Code only applies to national park, State forest and protected public land. It does not impose responsibilities on individuals. The current Bushfire Code expires in December 2024. The consultation will close at 11:59pm on 3 November 2024. https://engage.vic.gov.au/Code-of-Practice-for-Bushfire-Management-on-Public-Land  

The threat to Tasmania’s renewable regrowing forestry sector is at risk once again with Labor and the Greens set to jump back into bed with each other. Source: Timberbiz Reports that a secret deal has been made with the Greens in a bid to keep Labor in power will decimate the jobs of thousands of Tasmanian workers and their communities. Minister for Business, Industry and Resources, Eric Abetz, said the threat must be actively opposed by all State and Federal Tasmanian Labor politicians. “We know South American hardwood is already being imported to Australia to replace Australian native timber now locked up by Labor,” Minister Abetz said. “And the carbon miles of these imported products just adds to the environmental vandalism of such a move. The virtue signalling Bob Brown Foundation, which relies on donations from mainland activists, must know their policy is destructive of everything other than their bank account. “This a real and present threat which must be opposed by all Australians who believe in genuine wellbeing of our environment and jobs. “State Labor cannot remain silent on this as they have on too many other matters. “This is about putting Tasmanian jobs first.” “If State Labor refuse to condemn this deal, we know their jobs mantra is nothing but a joke.”