Meriton is Australia’s largest home builder.
The 2014 HIA Housing 100 report reveals that Meriton started work on about 8,000 apartments in the year ending June. The housing industry survey of dwelling constructions estimates that housing starts boosted by 12.7 per cent over the 12 months ending June and reached 182,416.
In the report released Wednesday, HIA mentions that the country’s 100 largest home builders also increased their starts by 30.6 per cent and reached 66, 764, the highest level in more than ten years, The Australian writes. Now, the largest home builders account for about 36 per cent of the market.
Figures show that Meriton’s commencements rose from last year’s 2,573 to 7,929 this year, which makes it the most active apartment developer. The second highest number of commencements belongs to BGC Australia, which hit 5,004 starts, followed by Alcock Brown-Neaves and Metricon Homs. Brookfield Multiplex, also on the list, rose from 282 apartments last year to 2,189 over the past 12 months.
Commencements boosted in each state except Queensland and, according to the HIA survey, the strongest growth will continue in New South Wales and Western Australia. Victoria is expected to experience only a slight increase. The HIA survey also reveals that the number of the country’s largest home builders which started considering apartment developments is rising.…