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$vuetify.icons.faPhone1300 650 620

New Home Sales Remain Strong in August

Media Release

New Home Sales Remain Strong in August

Media Release
“The strength in New Home Sales in recent months indicates that the boom in detached home building will continue to create strong employment opportunities into the second half of 2022,” stated HIA Economist Tom Devitt.

The HIA New Home Sales report – a monthly survey of the largest volume home builders in the five largest states – is a leading indicator of future detached home construction.

“New home sales remained strong in August, albeit not at the record levels observed prior to the end of HomeBuilder in March 2021,” added Mr Devitt.

“Sales in the three months to August 2021 were 15.5 per cent lower than the same time in 2020.

“A more reasonable timeframe for comparison is the same period in 2018 and 2019, before the adverse impact of COVID-19 and the stimulus from HomeBuilder.

“In the past three months sales were 15.4 per cent higher than at the same time in 2019 and 4.5 per cent higher than the same time in 2018.

“This strength in sales of new detached homes is likely due to increased household savings during the pandemic. There has also been a switch in market preference toward lower density homes as working from home becomes entrenched,” concluded Mr Devitt.

In the three months to August, Western Australia led the pack, up by 60.0 per cent compared to the same quarter in 2019, followed by New South Wales (+28.1 per cent), Victoria (+6.7 per cent), Queensland (-1.5 per cent) and South Australia (-15.2 per cent).

For further information please contact: 

Private New House Sales - Australia

Thomas Devitt

Economist

P: 0439 514 656
E: t.devitt@hia.com.au

Tim Reardon

Chief Economist
Breaking news
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19 Jan
Record year for new homes starts

More detached homes commenced construction in the 12 months to September 2021 than in any previous period,

14 Jan
Demand for housing and first homebuyer activity remain strong

The value of loans, excluding refinancing, issued for housing towards the end of 2021 was elevated as demand remains very strong.

11 Jan
Ongoing COVID-19 restrictions for the Northern Territory

Lockout across the Territory to end as expected, except for the localities of Yuendumu and Yuelamu.

10 Jan
Building approvals strengthen in November

The number of building approvals issued in November 2021 increased by 3.6 per cent with both detached and multi-unit approvals increasing for the month.

Breaking news
View all $vuetify.icons.faArrowRight
19 Jan
Record year for new homes starts

More detached homes commenced construction in the 12 months to September 2021 than in any previous period,

14 Jan
Demand for housing and first homebuyer activity remain strong

The value of loans, excluding refinancing, issued for housing towards the end of 2021 was elevated as demand remains very strong.

11 Jan
Ongoing COVID-19 restrictions for the Northern Territory

Lockout across the Territory to end as expected, except for the localities of Yuendumu and Yuelamu.

10 Jan
Building approvals strengthen in November

The number of building approvals issued in November 2021 increased by 3.6 per cent with both detached and multi-unit approvals increasing for the month.