Australians Lack Confidence in the Economy Which is Negatively Affecting the Building Industry According to Your Building Broker's Managing Director Steve Fitzpatrick

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Australia's housing sector is in huge decline according to Mr Fitzpatrick, Managing Director of Your Building Broker. "Australians are refusing to spend due to the uncertainty of the government and their announcement of greater taxation on the Australian people with the pending carbon tax". The housing sector is being hit hardest, with the trickle affect to be felt by countless working families in the coming months. Urgent action is required immediately according to the Housing Industry Associations Chief Economist, Dr Harley Dale.

Steve Fitzpatrick Managing Director of Your Building Broker

Steve Fitzpatrick

“There’s a lack of consumer confidence that is no longer associated with the GFC, but with this governments poor performance and dishonesty"

The Australian economy is one of the strongest in the western world and yet Australians are walking around with short arms and deep pockets. Spending is low and savings is at an all time high even with strong national economic indicators in many sectors.

“By now you would have thought our economy would be returning to normal levels, but it just isn’t so” says Steve Fitzpatrick, Managing Director of Your Building Broker. “There’s a lack of consumer confidence that is no longer associated with the GFC, but with this governments poor performance and dishonesty regarding the introduction of a new carbon tax”. This sentiment is shared by Gary Morgan, executive chairman of Roy Morgan research who attributes the confidence fall to the federal government's announcement of the carbon tax.

Labour recently broke their pre-election promise by announcing the introduction of the new carbon tax upon the Australian people but refuse to release information on just how much extra tax will be paid by individuals because of the policy. Misuse of the surplus created by the previous government has left Julia Gillard’s government with huge national debt and now carrying a large vote of no confidence with the Australian people.

“No one is spending and it’s hurting our economy in many ways” says Mr Fitzpatrick. “According to recent sales results of the dozens of home builder we represent, the construction market is severely depressed with many builders struggling to cope with a huge downturn in activity.” That lack of activity is likely to trickle down to many associated businesses and individuals who benefit directly from the housing sector and will affect Julia Gillard’s ‘working families’ significantly.

Mr Fitzpatrick said “Home builders have modified their house designs and specifications to suit lower budgets, and building brokers like Your Building Broker are adding further value by lowering prices through the introduction of greater competition, but it just isn’t enough.”

There are suggestions that Labor should abandon the introduction of the new carbon tax completely until they can fully substantiate and calculate the real costs to individuals. Further calls are being made by the HIA for additional stimulus with the housing sector.

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Steve Fitzpatrick
steve@yourbuildingbroker.com.au
1300495787
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