Australia’s top homebuilders have endured significant declines in revenues and new home starts across the nation’s housing market — as recessionary conditions in construction deepen, with the industry experiencing the sharpest decline in activity in six years.
According to the annual HIA-Colorbond Steel Housing 100 Report published on Wednesday, the top developers captured a greater share of a market hit by credit curbs and weaker confidence.
The combined market share of the country’s 20 largest home builders rose to 35 per cent from 33 per cent a year earlier and the largest share since 2014.
For the fourth consecutive year, Metricon has topped the annual HIA-Colorbond Steel Housing 100 Report published on Wednesday.
Metricon, led by Peter Langfelder, recorded 4,473 new home starts through the 2018-19 financial year across NSW, Victoria, South Australia and Queensland.
Meriton Apartments, owned by Australia’s second richest person, Harry Triguboff, powered up the list to second place, from ninth the year prior, with 3,288 new starts.
Meriton’s jump, driven by a 55 per cent annual increase in housing starts to 3288 in the year ended June 30.
Western Australia-based ABN Group moved up one place to third with 2,987 new starts, down on last year’s numbers. Dyldam Developments, Simonds Group and MJH Group also made the list.