Metricon tops BGC and Meriton as largest home builder: HIA top 100
The HIA-COLORBOND® steel Housing 100 Report 2015/16 reveals a fourth consecutive increase in new dwelling commencements for Australia’s largest volume builders, with Metricon topping the latest list.
“This latest rise takes the number of HOUSING 100 starts to a record high, just surpassing the previous peak reached in 2003/04,” said HIA chief economist, Dr Harley Dale.
The total number of HOUSING 100 starts was 69,161 in 2015/16, compared to the previous record of 69,100 in 2003/04 and the ten year high of 68,621 reached in 2014/15.
The report, that ranks Australia’s largest 100 residential builders based on the number of homes commenced each year, found that Metricon Homes was the nation’s number one home builder in 2015/16.
Metricon Homes reported a total of 4,365 starts, of which 3,794 were detached houses and 571 were ‘semi-detached’ dwellings.
These homes were started across Victoria, Queensland, New South Wales, and South Australia.
The second highest ranked builder in 2015/16 was BGC (Australia) with 4,049 housing starts, followed by Harry Triguboff's Meriton Apartments with 3,793 starts.
The HOUSING 100 featured a number of ‘big movers’ in 2015/16.
Nine companies increased their housing starts by more than 200, while a further ten increased their housing starts by between 100 and 199.
The biggest mover was MJH Group (+1,034 starts) followed by Metricon Homes (+994 starts).
The HOUSING 100 started 50,507 detached houses in 2015/16.
The nation’s largest 100 builders started 5,697 semi-detached dwellings and 12,957 multi-units.
“A key focus during this record new home building cycle has been on the changing composition of new dwelling supply, particularly the increased volume and share of medium/high density (MHD) dwellings,” noted Harley Dale.
“The latest HOUSING 100 results reflect this changing dynamic of Australia’s new home construction landscape.
“Beyond this year the housing pond becomes muddier - the record level of MHD product in the pipeline provides the Australian economy with an unprecedented degree of uncertainty regarding the timing and magnitude of the down cycle,” concluded Harley Dale.
“The broad brush approach to credit restrictions applied by APRA, together with the cash-grab transaction costs levied by some state governments on foreign investors exacerbate the downside risks to new home construction and therefore the broader domestic economy.”