Building group up-beat about rate cut impact
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A peak building industry lobby group says this week's interest rate cut will help stimulate the New South Wales mid-north coast construction and housing industry.
But the chief executive officer of the state's Master Builders Association, Brian Sidler, says one of the biggest issues facing the region is a lack of available land.
He says it is important that authorities "fast track" land release strategies.
"The Federal Government announced its first homeowners boost, $21,000, and that's a very good initiative, but it has to be coupled with local government ensuring the planning process and development application process are streamlined, otherwise by the time this grant runs out, which is the end of June next year, we won't have seen many people able to access it," he said.
Mr Sidler says the rate cut is good news, but local councils must focus on land release strategies.
"Well look it's always welcomed news when interest rates are dropped, particularly it will get people out at least looking at the market, so we welcome it most sincerely, but the biggest issue for the construction industry in NSW is land availability and the release of land," he said.
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