{{ propApi.closeIcon }}
Our industry
Our industry $vuetify.icons.faArrowRight
Economic research and forecasting Economics Housing outlook Tailored market research Economic reports and data Inspiring Australia's building professionals HOUSING The only place to get your industry news Media releases Member alerts Submissions See all
Business support
Business support $vuetify.icons.faArrowRight
Become an apprentice host Hire an apprentice Why host a HIA apprentice? Apprentice partner program Builder and manufacturer program Industry insurance Construction legal expenses insurance Construction works insurance Home warranty insurance Tradies and tool insurance Planning and safety services Building and planning services How can HIA Safety help you? Independent site inspections Solutions for your business Contracts Online HIA Tradepass HIA SafeScan HR Docs Trusted legal support Legal advice and guidance Professional services Industrial relations
Resources & advice
Resources & advice $vuetify.icons.faArrowRight
Building it right Building codes Australian standards Getting it right on site See all Building materials and products Concrete, bricks and walls Getting products approved Use the right products for the job See all Managing your business Dealing with contracts Handling disputes Managing your employees See all Managing your safety Falls from heights Safety rules Working with silica See all Building your business Growing your business Maintaining your business See all Other subjects COVID-19 Getting approval to build Sustainable homes
Careers & learning
Careers & learning $vuetify.icons.faArrowRight
A rewarding career Become an apprentice Apprenticeships on offer Hear what our apprentices say Advice for parents and guardians Study with us Find a course Get your builder's licence Learn with HIA
HIA community
HIA community $vuetify.icons.faArrowRight
Join HIA Sign me up How do I become a member? What's in it for me? Get involved Become an award judge Join a committee Partner with us Get to know us Our members Our people Our partners Mates rates What we do Mental health program Charitable Foundation GreenSmart
Awards & events
Awards & events $vuetify.icons.faArrowRight
Awards Australian Housing Awards Awards program National Conference Industry networking Events
HIA products
HIA products $vuetify.icons.faArrowRight
Shop @ HIA Digital Australian Standards Contracts Online Shipping and delivery Purchasing terms & conditions Products Building codes and standards Hard copy contracts Guides and manuals Safety and signage See all
About Contact Newsroom
$vuetify.icons.faTimes
$vuetify.icons.faMapMarker Set my location Use the field below to update your location
Address
Change location
{{propApi.title}}
{{propApi.text}} {{region}} Change location
{{propApi.title}}
{{propApi.successMessage}} {{region}} Change location

$vuetify.icons.faPhone1300 650 620

Population growth central to outlook for home building

Media Release

Population growth central to outlook for home building

Media Release
“Australia is experiencing a building boom with a record level of detached homes under construction but a return of a stable and reliable growth in population is necessary to ensure economic growth,” stated HIA Economist, Angela Lillicrap.

HIA released its economic and industry Outlook Report for Australia today. The Outlook Report includes updated forecasts for new home building and renovations activity for Australia and each of the eight states and territories.

“The national economy is benefiting from a record volume of new detached homes under construction. This boom will continue well into 2022 and will support employment across the sector,” added Ms Lillicrap.

“This record volume of new detached homes under construction is occurring in all regions, and is continuing to expand.

“The elevated level of building and the speed that it emerged has resulted in demand for key building inputs outstripping supply, including materials, labour and land. The delay in the supply of materials will see the impact on labour and ancillary services remain elevated well into the second half of 2022. This is a positive for the wider economy as the economic stimulus is spread over more years, but a challenge for building businesses.

“Recent data suggests that demand for detached housing remains solid even without fiscal stimulus.

“There are also encouraging signs that demand for multi-units is returning ahead of population growth. Approvals for units have picked up in New South Wales and Queensland after a pause in 2020 as investors look through the haze of the pandemic and anticipate a return of migration.

“The renovations market is also mid-way through a record year. Unlike detached home building, we expect that this trend will continue for a number of years due to the elevated savings and increased time spent at home.

“Despite the strong outlook for the next twelve months, without a return of demand for new housing from overseas migration, there will be a decline in new home commencements over the next few years.

“Even with overseas migration re-starting next year, the volume of new home commencements will not be sustained. A decline in commencements of new homes should be anticipated from mid-2022 when homes initiated by HomeBuilder are reaching completion,” concluded Ms Lillicrap.

Population growth central to outlook for homebuilding
*HIA’s National and State Outlooks are Australia’s most comprehensive housing report card, encompassing renovations activity, new home building, policy updates, global and domestic economic analysis, and dedicated state and territory housing databases. For further information or for copies of the publication (media only) please contact: Kirsten Lewis on k.lewis@hia.com.au

For further information please contact: 
 

Angela Lillicrap

Economist

Tim Reardon

Chief Economist
Breaking news
View all $vuetify.icons.faArrowRight
18 May
Vale Mario Biasin

HIA is deeply saddened by the loss of housing industry leader Mario Biasin

15 May
Accessing super: home ownership matters

The Liberal Party’s announcement today that if re-elected they will allow Australians to access up to $50,000 from their superannuation to fund a deposit to help them buy their first home is a welcome one, and an initiative that HIA has championed.

13 May
Strong pipeline sees jump in new home sales for WA

Western Australia is one of just two states to see an increase in new home sales in April, recording a significant increase in the amount of new activity from the same period prior to the COVID-19 pandemic.

13 May
HIA welcomes focus on skilled workforce in WA budget

The Housing Industry Association (HIA) has welcomed the ongoing support for Western Australia’s residential building industry in the 2022-2023 State Budget, including a number of targeted initiatives aimed at attracting more skilled workers into the state amid record high levels of detached construction.

Latest articles
View all news $vuetify.icons.faArrowRight
19 May
Engaging contractors in NSW - Details to collect from your contractor

This checklist provides a summary of some of the information and details you should seek from a contractor when engaging their services. Some of these may be legally required, whereas others are a commercial decision for your business.

18 May
Vale Mario Biasin

HIA is deeply saddened by the loss of housing industry leader Mario Biasin

16 May
NSW Building contracts and related documents

Learn about all of the various contract documents you can use INS to be compliant.

15 May
Accessing super: home ownership matters

The Liberal Party’s announcement today that if re-elected they will allow Australians to access up to $50,000 from their superannuation to fund a deposit to help them buy their first home is a welcome one, and an initiative that HIA has championed.