Property News

Concrete

Taking care of concrete can be a little difficult. Unfortunately, even the best laid concrete can crack under the right conditions. At McCarthy Homes we do everything we can to ensure that any concrete we lay on driveways or paths is right for the environment. To take further steps to ensure your concrete goes the distance, be wary of having heavy vehicles park or drive on it and don’t undertake extensive digging nearby. Consider planting trees further back from any concrete as well, as roots can quickly crack and distort concrete.

Decks and Exposed Wood

If you’ve just taken delivery of your home, one of the first things you will need to do is coat all wooden decking with sealant. This will help maintain the integrity of the wood in all weather conditions. It will help seal out water and may provide a barrier of protection against other damage. Over time, you may find that your deck attracts dirt and stains. You’ll need to scrub it down thoroughly and reseal it on occasion to keep it in pristine condition.

The same rules apply for other exposed wood around your home. Ensure that new sealant is applied as needed. Pay particular attention to wood that is directly exposed to the elements, particularly sunlight and rain.

Condensation

While many modern homes are built with extractor fans and are designed to promote adequate air flow, you will need to take some steps to prevent condensation forming in certain areas of your home. Basic steps you can take to reduce condensation include opening bathroom windows when water is in use and using extractors and ventilation systems. Limiting the ability for condensation to form inside your home will also help prevent any mould growing.

Flooring

Depending on the flooring in your home, you may need to take different steps to maintain it at a high level of quality. Carpet should be vacuumed regularly, preferably with a vacuum cleaner that’s appropriate for its thickness and conditions (if you have pets, consider a vacuum cleaner with an attachment for pet hair). Carpets should be shampooed roughly every two years, or less, to ensure they stay clean and stains don’t become set in.

Wooden floor boards may need to be polished at times. If mopped regularly, they may also need to be polished and have new varnish or sealant applied. Tiles and linoleum should be mopped regularly. Be wary of uneven wear on some parts of your flooring. This can arise due to heavy foot traffic or furniture footings.

Gardens and Pool Areas

If your brand-new home was built by us, we will provide guidance on landscaping and gardening that will assist you in maintaining the integrity of your home. Some things to be aware of include:

• Ensure that all gardening, soil, additional tiling or paving etc is located beneath the level of the damp proof membrane.
• Ensure that nothing covers the weep holes in brickwork.
• Aim for a 75mm split between your gardens, gravel, soil and grass and the weep holes.
• Weep holes must be kept open and able to be visually inspected as part of termite prevention, in addition to protecting brickwork from moisture.

Your pool areas should be maintained according to your local council guidelines. You should ensure that they do not sit above the level of your home and that there are adequate measures in place to ensure that all excess water drains away from your home.

Maintenance advice

If you are unsure how to maintain any part of your home and would like professional advice, please contact us. We always seek to ensure that our clients are provided with adequate information at handover, however sometimes some eventualities arise which cannot be planned for. We’re more than happy to point you in the right direction if required.

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Or, call us on (07) 3358 9704

With so much changing so quickly, every forward-looking projection made within the first few weeks of January for the property market in 2020 is not longer of any value. The entire game has changed, and everything you previously “knew” about shifts in the property market no longer applies. We keep our ear very close to the ground, because our livelihood depends on people building new homes. We have decided to summarise some of the arguments and predictions we saw in early January, and compare them to opinions in mid-April, a mere three months later.

January’s outlook for 2021

In January, the picture was rosy, albeit with some expectations of slowed growth throughout the year. Opinions varied, but generally speaking, economists and analysts expected early growth in the first two quarters of the calendar year, with a distinct slowdown as housing affordability began to move beyond the reach of most buyers. Lower interest rates were expected to drive renewed attention on the property market, particularly for investors as equities began to offer less attractive risk-return ratios and fewer opportunities to find genuine value.

Minor corrections across Sydney and Melbourne in the months leading up to the end of 2019 had many pundits predicting increased interest in the housing market in those cities driving prices upwards at a steady rate, with the tail-end of the year seeing a plateau or minor reduction, with a good chance of those markets achieving their all-time highs inside of 2020 or in 2021.

May’s outlook for 2021

Now that we are in May, things are looking decidedly different. The coronavirus has shaken the world, markets of every shape and size have taken a hit, and the hitherto unforeseen measures required to eliminate the coronavirus from the community (or at least slow its spread) have seen huge sectors of the economy shut down virtually overnight.

Despite significant reductions in interest rates, the JobKeeper program, and ongoing quantitative easing, the Australian economy as a whole will suffer significantly during this lockdown period and will take some time to rebound on the other side. However, it could be worse. This is not the GFC – this is an economic crisis caused (through necessity) by government intervention, not underlying issues in the housing market.

Many pundits are tipping a return to a solid, healthy property market by mid-2021, however, every prediction relies on how quickly we can alleviate the threat of coronavirus and return to an approximation of business as usual.

How McCarthy Homes is helping

We know it’s tough for a lot of people. We’ve spoken with people who have had to push back their dream of building their first home for several years – they’ve lost their job, they’re chewing through savings and they’ve watched their super and other investments tank. We cannot help everyone, but we can help a few. For a limited time, we will pay your rent if you build a new home with McCarthy Homes – up to $25,000. We want to see as many people as possible achieve their dream of owning their forever home, regardless of economic conditions.

Click here to view our promotions.

Our Build Options

Explore our build options below and determine what works for you – we are very flexible, and always happy to help homeowners get into a house.Housing bounced 0.8 points to 50.8, in growth territory rather than contraction. Of the four construction sectors measured, housing shows the strongest signs of stability and potential growth. Australia has seen the housing boom maintained for over a decade. While there have been plenty of small blips, that long upwards trend has proven quite resilient.

Knock-Down Rebuild

House and Land Packages

Custom Homes

Hampton Homes

Home Inclusions

Where we build homes

McCarthy Homes builds homes across South East Queensland and the northern coastline of New South Wales.

Click here to see our build areas.

Work with McCarthy Homes

McCarthy Homes have been building high quality custom homes for over two decades. During that time, we have helped dozens of happy first homeowners step into their dream homes. Our approach to home building centres around the element of timeless sophistication. Every aspect of our building process is designed to deliver a luxurious forever home.

Working with McCarthy Homes gives you the benefit of working with experts in all fields. From our project managers through our lead designer and carpenters on every site – when you work with McCarthy Homes, you work with the best. We’ll ensure that you understand the entire process of building your home, from design to handover. Flexibility, transparency and superior finishes are our trademark and we stand by it.

Click here to learn more about McCarthy Homes.

Contact McCarthy Homes

If you’d like to discuss your new home plans with us, get in touch. We are always happy to guide you through the process and determine what we can do to get you into your dream home. We can help you with planning and design, site selection, knock down and rebuild, and more.

Click here to contact us.

Or, call us on (07) 3358 9704

A falling construction index is a fairly powerful indicator of the health of the Australian economy in general and can act as a forward indicator for flow-on investment in other areas. For us at McCarthy Homes, however, there was a silver lining to that cloud. Housing construction, a specific area within the broader construction index, saw a slight rise. This bodes well for housing, particularly the niche in which we operate, and means that we can continue to build and hand over beautiful Hampton style homes for our clients.

What are the knock-on effects?

Ask 10 different economists how construction investment and overall numbers impact the economy and you’ll receive 15 different answers. Some of the knock-on effects of a downturn in housing construction specifically that we have seen espoused include:

• Reduction in house prices: This seems paradoxical, as one would expect a downturn in supply to cause an increase in prices. However, it appears that the same factors that lead to a lower dwelling construction numbers also have an impact on overall demand for housing. It is somewhat a chicken and egg situation.
• Reduction in consumer spending: Housing market shocks of almost any description often have impacts on consumer spending levels. As many people view construction numbers as a bellwether for the broader Australian economy, a downturn here may be seen as a sign that it’s time to tighten the belt.
• Reduction in business confidence: The above can also be said for business confidence. This can have the knock-on effect of reducing business investment in new premises, which can further exacerbate a construction downturn.
• RBA action: The housing market plays a role in the Reserve Bank of Australia’s decision-making. While it is oft said that their remit remains exclusively around monitoring inflation levels, recent years have seen their scope to expand assessment of, and action on, employment, housing and more. Interest rate decisions are made in a very macro context.
• Impacts on other industries: Large changes in construction numbers, housing prices and other major economic purchases can have a flow-on effect to big ticket items like car and holiday purchases.
• Changes in employment patterns: A construction downturn may impact the hiring practices of construction firms, with strong potential for reduced hiring rates.

Which states are building houses?

Depending on the data you look at (monthly fluctuations are normal and can be considerate), Sydney and Melbourne approached the final quarter of the 2019 calendar year with some slight increases to housing construction. Building permits nationwide were down month-on-month by 0.2% in December, although that was on the back of a very busy November.

All things considered, there is significant upside potential for all Australian states, although growth in construction approvals and house prices are likely to be very localised. Southeast Queensland is likely to remain an attractive proposition for those seeking capital gains in housing outside of the overheated Sydney and Melbourne markets.

Building approvals

In December 2019, the total dwelling units approved was down 5.9% on December 2018. This data from the Australian Bureau of Statistics illustrates a slight downturn in the home construction industry, although it must be taken in context. After several years of aggressive growth and rapid increases in dwelling approvals, a downturn of 5.9% doesn’t represent a major downshift for the industry, but rather the addition of some volatility and a possible return to more sustainable levels of growth.

Why houses are performing so well

Housing bounced 0.8 points to 50.8, in growth territory rather than contraction. Of the four construction sectors measured, housing shows the strongest signs of stability and potential growth. Australia has seen the housing boom maintained for over a decade. While there have been plenty of small blips, that long upwards trend has proven quite resilient.

There is no telling what happens in the future, but it’s worth reflecting on the reasons Australia’s housing market, including both construction numbers and overall prices, has seen such strong performance. The likely explanation is a combination of cheap debt and overpriced assets elsewhere, making housing more attractive. However, identifying direct causes for a macro trend is almost impossible.

What should you do?

Always seek the advice of a professional before you make significant financial commitments, such as purchasing a home or arranging the construction of a new house. We are not financial professionals, but we can assist you in finding someone who may be able to provide you with advice, or we can provide general advice.

Click here to contact us.

Olympics bid

South-East Queensland’s bid to host the 2032 Olympic Games is likely to drive significant investment in local infrastructure throughout the region. The Sunshine Coast stands to benefit from this investment, particularly as the current Queensland State Government seems committed to spreading events from the Whitsundays down to the Gold Coast.

Due to recent changes instituted by the International Olympics Committee, regions are now able to make bids for the games, which makes South-East Queensland’s bid far more likely to succeed. It also ensures that whichever government is in power during preparation for the games is more likely to allocate funding throughout the region, which stands to benefit the Sunshine Coast.

Infrastructure boom

The Sunshine Coast is currently undergoing a significant infrastructure boom that will better position it to handle upcoming population growth throughout the 2020s and 2030s.

Maroochydore CBD Development

Maroochydore is positioning itself as one of Australia’s largest and fastest-growing urban centres. A complete redevelopment of the new CBD will cement Maroochydore’s position as the hub of the Sunshine Coast, with closer proximity to Asian trading partners and a high-speed data connection providing it with independent access to the rest of the world.

Sunshine Coast Airport Expansion

The Sunshine Coast Airport is undergoing significant investment in a new runway and requisite infrastructure to boost capacity and improve exposure to the wider world. The new runway is expected to be completed in 2020 and will greatly improve tourism and work accessibility.

Sunshine Coast Health Precinct

The Sunshine Coast Health Precinct, incorporating the Sunshine Coast Health Institute, Sunshine Coast University Hospital and Sunshine Coast University Private Hospital, constitutes one of the largest ongoing health infrastructure investments in the country. Expectations are for the Health Precinct to drive around $447 million per year in contributions to the Sunshine Coast economy.

Other projects

There are major new residential developments the length of the Sunshine Coast, in addition to accompanying commercial developments that are being constructed to serve both existing needs and future requirements. New technology precincts will serve to take full advantage of the submarine cable that is connecting the Sunshine Coast with the wider world.

Employment growth

All of this investment and development is accompanied by an enormous jobs boom that is unlikely to die down. As construction jobs arise during the infrastructure development phase, more roles will follow as businesses and workers shift into the new technology, health and commercial districts. This cycle of investment and job creation is likely to last long into the future as the Sunshine Coast continues to grow, creating a self-fulfilling loop of investment and growth.

Shifting economy

The Sunshine Coast, a region once largely reliant on tourism, is rapidly accelerating towards a diversified future with a host of different industries taking centre stage. Health and technology are likely to play a large role in the future of the Sunshine Coast. As the local economy continues to strengthen and attract a range of business types, economic conditions will continue to improve and become vastly more robust.

As the economy diversifies, it will attract new residents and the continued demand for employees will place upwards pressure on residential real estate prices. The state government recognises this and appears committed to driving continued growth in the Sunshine Coast region in an effort to more evenly spread population growth throughout south-east Queensland rather than concentrating it in existing high-density areas.

Population shifts

The Sunshine Coast is experiencing significant population shifts. While in the past it was home to a slightly older population than many other areas in south east Queensland, recent years have seen a slight shift in the demographics of the region towards younger age brackets. As employment opportunities in the area continue to grow, this demographic shift is likely to become more pronounced.

The bottom line

The Sunshine Coast is Australia’s ninth most populous region. It’s attracting more investment than ever before. This huge boom in infrastructure investment is driving employment growth, further residential investment and a bright future for the region. Now is an excellent time to dive into the Sunshine Coast property market, whether as an investment purchase or a forever home – the Sunshine Coast has something for everyone.

Living in a McCarthy Home is an everyday pleasure, and that’s the way we like it. We ensure our homes are affordable, because everyone deserves to live in a home that is perfect for them. When it comes to the price of a sale after a home has had its first owner, that’s not a concern of ours. It’s not the money that matters, it’s the years upon years, the decades, of shared memories and experiences within the walls.

However, the housing market certainly measures value with dollars. Pleasingly, the housing market in North Lakes recently determined that the most valuable home in the suburb was a McCarthy Home.

16 Kennedy Court, constructed fewer than ten years ago, is a unique custom build by McCarthy Homes. It follows all the design principles present in every single McCarthy Home. Designed to maximise comfort and encourage communal living, it boasts flowing living areas and a central kitchen that’s perfect for family cooking sessions. There’s nothing worse than an isolated kitchen, and 16 Kennedy Court maximises the central importance of the kitchen, the centre of every home.

The kitchen features a large marble island directly in the centre. It’s complimented by stained timber surrounds and elsewhere throughout the property, ensuring a perfect design flow that makes you feel right at home, exactly where you belong, anywhere in the house.

While an excellent home design means more than anything else when it comes to comfort, liveability and sophistication, some great views can really add to the equation. 16 Kennedy Court has outstanding views in spades, overlooking the North Lakes Resort Golf Course in a stunning panorama of the best that Brisbane’s north side has to offer.

Stepping outside the home, 16 Kennedy Court offers an impressive backyard and swimming pool area. With a direct view to the golf course from the swimming pool and outdoor living area, it’s a great spot to relax and soak up the atmosphere.

Quality over all else

Our homes are built to last. True value and lasting home security are delivered through extremely stringent standards and high build quality. Extensive consultation between our designers and construction team ensures that the final product perfectly fits the requirements of the first homeowner while respecting the best practices we have developed through years of home building.

Ageless grace

Alongside building for quality, we build for timeless sophistication. Home trends come and go, but ageless grace is a quality that lasts forever. A McCarthy Home is built to last, both in structural soundless and appearance. Internally and externally, all McCarthy Homes exude an aura of grace and sophistication that permeates throughout generations.

16 Kennedy Court perfectly encapsulates the core design principles of McCarthy Homes. Superior inclusions throughout the home (in this case, upgraded at the owners’ insistence), refined finishes in every room and an atmosphere that ensures every resident and guest feels immediately at home.

The sale price

16 Kennedy Court set a suburb record for North lakes with a pre-auction sale price of $1,550,000. Marketed and sold by Darren Suhle of Ray White North Lakes, it was fantastic to see a McCarthy Home deliver the highest price ever for a house in North Lakes.

As we’ve stated, it’s not about the price, it’s about value. The home was purchased by a local family living nearby. We hope that upon moving in, they enjoy the best that McCarthy Homes has to offer and come to share many great memories within those walls.

The future of McCarthy Homes

This sale only serves to reinforce the principles that underlie everything we do at McCarthy Homes. We will continue to hire the best designers and builders  to deliver on the unique requirements of all of our valued clients.

Do you want to learn more about our processes, or would you like to speak with us about your options for designing, building or purchasing a home? Please get in touch, we’re happy to chat about your home requirements and help in any way we can.

Domain have revised down their own predictions based on a slower start to the year than expected, attributed to ongoing fallout from the royal commission into the financial services sector, economic headwinds and uncertainty around the election and the economy broadly. We’ve broken down their report. It makes for some interesting reading.

Why the turnaround next year?

There have been a few big changes (and some yet to come) over the past couple of months that bode well for the property market – and Domain, like everyone else, has picked up on it.

Interest Rates

Money is getting cheaper, mortgage rates are dropping, and it’s getting easier and easier for people to get the financing they need to buy their first home or purchase an investment property.

APRA Lending Rules

In May, the Australian Prudential Regulation Authority (APRA) changed its standards surrounding loan serviceability. Rather than loan providers assessing mortgagees on their ability to repay loans at a rate of 7% (regardless of their actual rate), they are now recommended to assess loan serviceability at a rate of 2.5% above the actual rate – so as interest rates continue to drop, the number of people who may be considered able to meet their repayment obligations will increase. This will open up the housing market to new entrants, and more demand (in the absence of considerations of supply) tends to have only one effect on prices.

The Election and New Policy

The federal election eased a lot of uncertainty around housing, particularly with regard to negative gearing. Easing the fears of property investors and locking in certainty for the next few years should help to address some of the underlying turmoil in the housing market and will help reinforce the price floor (possibly higher than it otherwise would have been) once clearances and prices stop declining.

The Capitals

Our attention is often drawn to the capital cities when we’re analysing property price shifts, and rightly so – that’s where the bulk of our population lives. Australia-wide, Domain is calling a 1% increase in property prices by the end of the year (we’re willing to write this off as a rounding error – let’s call it flat) and a 2-4% increase throughout 2020. There may be minor downturns over the next couple of months, but by year’s end, Domain contends, we should see flat-to-positive price performance for 2019 as a whole. This data is reflected across the capital cities, broken down below:

Sydney

Houses:

2019 – 2%

2020 – up to 5%

Apartments:

2019 – 2%

2020 – up to 4%

Melbourne

Houses:

2019 – 1%

2020 – up to 3%

Apartments:

2019 – 1%

2020 – up to 2%

Brisbane

Houses:

2019 – 1%

2020 – up to 5%

Apartments:

2019 – 0%

2020 – up to 2%

Interestingly, Domain is predicting that Brisbane apartments may see zero growth in prices throughout both 2019 and 2020 – with a maximum of 2% growth next year. Houses, on the other hand, have a very positive outlook.

Perth

Houses:

2019 – 0%

2020 – up to 2%

Apartments:

2019 – 0%

2020 – up to 2%

Adelaide

Houses:

2019 – 1%

2020 – up to 3%

Apartments:

2019 – 2%

2020 – up to 3%

Hobart

Houses:

2019 – 0%

2020 – up to 4%

Apartments:

2019 – 2%

2020 – up to 5%

It’s very interesting to see a flatter prediction for Hobart house prices this year than Sydney or Melbourne. Domain places some emphasis on increased supply for their justification here.

Canberra

Houses:

2019 – 2%

2020 – up to 6%

Apartments:

2019 – 1%

2020 – up to 3%

Some Words of Caution

Domain concludes their report with an outline of some of the risks to their price forecasts. Upside risks include a stronger turnaround in investor sentiment than expected, a diving unemployment rate (combined with interest rate cuts) increasing wages and investment, and unexpected interest rate cuts.

The downside risks outlined by Domain include slower global growth than unexpected (possibly driven by an escalation in the trade war) and the potential for a rise in unemployment due to a construction downturn – somewhat of a double whammy. Further, investor sentiment might not respond as expected to the June rate cut and predicted July/August rate cut, resulting in flatter than expected prices or a delayed rebound.

The Big Picture

We’re facing interesting times ahead, but the fundamentals are reasonably healthy. Outside of retail, most of the Australian economy is chugging along at a modest rate. The property market isn’t diving, it’s correcting. We can expect to see more money continue to find its way into the market as the cost of borrowing becomes cheaper throughout the end of 2019. All things considered, now is a fantastic time to dive right in.

The new McCarthy Homes website was designed from the ground-up to deliver an exceptional experience for our valued clients.

Branding

Some time ago, we recognised that our old website did not adequately reflect our brand. We construct beautiful homes that are a pleasure to behold, yet our website failed to communicate this effectively. So, the journey towards a new website began.

The Process

Our website design process began with intensive discovery sessions with our development teams. We had to delve deeply into what makes McCarthy Homes the respected and sought-after brand that it is today. It was insightful for all involved, and gave us renewed respect for our own brand, as well as a better understanding of our failure to adequately communicate who we are and how we should go about that moving forward.

What followed was months of design and website development. Throughout the process tweaks and changes were made based on user feedback, development hurdles and ongoing discovery.

The final stage of this arduous process, the reveal to the public, will be the true test of the quality of our new website.

Functionality and User Experience 

The new McCarthy Homes website leaves nothing behind that our previous website offered. We still maintain a range of functionality, including the ability to view house plans, sign up for our newsletter, interact socially and much more.

The major changes lie in our user experience. A far more intuitive navigation structure, smoother edges across the whole site and a simple experience ensure that using the new McCarthy Homes website is a pleasure rather than a chore.

Experience it Now

Please go ahead and explore the website. We welcome all feedback, however we are quite sure that you’ll have a great time navigating through a new site that we are immensely proud of.

Yesterday saw Governor Lowe announce a rate cut to 1.25%, subsequently passed on in full by both the Commonwealth Bank and National Bank. The other two majors passed on a little less, with ANZ making the argument that it was starting from a point of lower rates anyway. Either way, it’s good news for those already holding a mortgage.

Today, GDP growth for the March quarter was announced as 0.4%. As a general measure of economic health, the GDP is fairly reliable (we won’t delve into a debate about declining GDP per capita here). Again, presumably, this is good news for those already holding a mortgage. Economic activity increases, and with any luck the buoyant tide lifts all boats, ensuring that those monthly payments are going towards an asset that is increasing in value.

How does the Rate Cut affect those looking to build a new home?

The rate cut will be very welcomed by those who are already in a mortgage, delivering average savings of around $700 a year for those holding a mortgage of $400,000. It’s a healthy amount of money, but it’s overshadowed by Treasure Frydenberg’s gift of $1080 apiece to around ten million taxpayers. Taken together, they are a healthy boon for those saddled with a loan.

However, for those looking at building a new home, this news is equally welcome. Reduced rates on a construction home loan and then a standard loan can only mean one thing – more flexibility in lifestyle and more choice. Whether you use the additional money to pay down the loan, push it into an offset account, or buy some new furniture for your new home, that money eases the load and gives you the freedom to act how you wish.

How do the GDP results affect those looking to build a new home?

The quarterly GDP results were slightly below many projections, but in the same ballpark. This is positive news, as we’re seeing an uptick from the previous two quarters which, annualised, point to a slight recovery in an economy that was otherwise starting to lag somewhat. Nevertheless, the outlook over the next two years is relatively flat, with no major movements in GDP figures expected.

For those people who have been steadily growing their deposit and are looking to take out a loan to build a home, a boost in GDP growth comes with benefits. On the bright side, it provides a slight boost to the housing market, meaning that they’ll be buying into an asset class that will likely see renewed interest from investors and other first-home buyers. As a further benefit, home builders won’t be competing directly with those looking to buy an established home.

Additionally, first-home builders may experience the added benefit of an increase in their own income, depending on the line of work they’re in. As economic activity increases and more money flows throughout the economy, those with elastic incomes are likely to see a rise in the money coming their way.

What’s the big picture? 

The big picture is a net positive for new home builders. If you’re in the market to build a new home, lower interest rates and cheaper loans give you a better chance of getting your foot in the door, may help increase the amount you can borrow, and ensures that you aren’t spending the first period of home ownership drowning in eye-watering repayments.

Coupled with a growing economy, the picture ahead is looking good. The RBA has hinted that based on their projections of slower than usual growth (and subsequently lower than ideal inflation), they’ll likely make the next rate move downwards, possibly before the end of the year (and possibly as soon as August).

If we see the next quarter of GDP growth beat expectations (more likely than not, in my opinion), it will be even further positive news for everyone in the new housing market – either on the buy side or sell side. However, it’s worth pulling the trigger sooner rather than later. Those low interest rates are only going to add fuel to the housing industry.

Look out for headwinds

Of course, looking at two factors in isolation rarely tells the full story. There is a lot more at play in the construction of new housing, one of Australia’s largest industries. Making your investment or home building decisions based solely on an uptick in GDP growth and a simultaneous cut to interest rates isn’t something we’d recommend. Make sure you’re comfortable in your financial situation and can afford to take such a big step.