The latest Australian Bureau Statistics data reveals a significant decline in the number of houses approved in South Australia over the last 12 months.
During the last 12 months the total number of houses approved in South Australia fell by 13.5 per cent based on seasonally adjusted figures.
“The drop in the total number of houses approved is concerning, but indicative of the state of the South Australian economy,” said Shadow Treasurer Rob Lucas.
“Sadly it is clear that many SA families struggling with high state taxes and charges and high cost of living simply can’t afford to build new homes.
“The fact that South Australians are building fewer homes is feeding our unemployment crisis.
“The danger for the South Australian economy is that the rising unemployment rate and declining home building industry form a vicious circle each feeding the other.
“Sadly, Labor’s failure to deliver a credible jobs plan in the recent State Budget will do nothing to help improve confidence in this industry.
“It is clear that South Australian businesses need tax relief right now, not in a few years as outlined by Treasurer Koutsantonis.
“The latest CommSec Report released last week ranked South Australia’s economy second to last with Tasmania “showing better momentum”.
“South Australia is stuck in an economic rut and the Weatherill Government is clueless as to how to lead us out of it.”