In the shrinking market of new-home construction, Metricon Homes has bucked the trend to be awarded the Housing Industry Associations (HIA) number one residential builder in Australia for the second year running.
The overall number of new homes undertaken across Australia has fallen in the last twelve months by 6.9 percent, however Metricon Homes reported a total of 4,367 starts - two more than last year.
This growth was been replicated by a number of builders including MJH Group which increased its starts by 517, resulting in the biggest overall growth for the second year in a row, and ACT based GEOCON which doubled its number of starts.
Despite the decrease in new home builds, these results show there are a small number of builders still able to grow their businesses which comes on the back of a boom in apartment and unit construction, especially in Sydney and Melbourne.
ABS statistics show approximately 45 percent of all new construction are apartment dwellings of four stories or more, with houses the second highest market an 32 percent.
The HIA–COLORBOND® steel Housing 100 Report showed that Australia’s 100 largest builders had increased their starts by 8.5 per cent to 74,572 during the 2016/17 financial year, the highest number of starts on record for the Housing 100 group.
The increase in starts prompted a rise in revenue earned from home construction by the Housing 100, resulting in a 22 per cent increase to $22.61 billion in the 2016/17 financial year.