{{propApi.title}}
{{propApi.text}} {{region}} Change location{{propApi.title}}
{{propApi.successMessage}} {{region}} Change location {{propApi.title}}
{{propApi.text}} {{region}} Change location{{propApi.title}}
{{propApi.successMessage}} {{region}} Change locationDetached home building in Victoria to remain strong throughout 2022
Detached home building in Victoria to remain strong throughout 2022
Member and guest login
Enter your email and password to access secured content, members only resources and discount prices.
Did you become a member online? If not, you will need to activate your account to login.
If you are having problems logging in, please call HIA helpdesk on 1300 650 620 during business hours.
Forgotten password
Need some help?
If you are having problems logging in, please call HIA helpdesk on 1300 650 620 during business hours.
If the email address you have entered is registered, you will receive an email with further instructions.
Become part of the HIA community
Enables quick and easy registration for future events or learning and grants access to expert advice and valuable resources.
Create a guest account
Enter your details below and create a login
Send me exclusive tips, early access to new launches, and special offers. I can change my mind at any time.
By clicking Get started now you agree to the terms and conditions and privacy policy.
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.
“There has been a clear shift towards lower density housing during the pandemic and this trend does not appear to show signs of slowing.
“This shift is not just those in units moving to detached housing but includes a shift to fewer people per household. As a result, we have seen a significant change in the volume, type and location of new homes.” added Ms Nield.
“Leading indicators show that the demand for new detached homes remains strong and suggests that the current boom in home building will be sustained throughout 2022.
“We believe the industry will continue to run at capacity throughout 2022, constrained by the availability of land, labour and materials.
“Over the year to September, the price of skilled trades increased by 6.0 per cent in Victoria, while the price of materials as measured by the ABS increased by 10.2 per cent. The price of residential land increased by 14.6 per cent in the 2020/21 financial year. So this has led to an increase in the cost of a new house and land package.
“But these cost increases have not led to constraints on access to finance, as the cost of an established home has increased significantly faster.
“The impact of the loss of migration is yet to fully impact demand for detached housing and a rise in interest rates will mark the end of this COVID building boom.
“Victoria has seen a significant decline in population due to the lack of overseas migration and an increase in households leaving the state for other regions.
“But affordability constraints seem to have pushed some households, particularly first home buyers back to townhouses.
“Multi-unit approvals in Victoria increased by 22.1 per cent in the September 2021 quarter to be 6.1 per cent higher than the same time last year.
“As a result, the outlook for multi-unit construction in Victoria has improved but remains weak compared to the pre-COVID levels due to the lack of population growth.” concluded Ms Nield.
*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
Missing Middle Housing Reforms must proceed without delay
The Housing Industry Association has expressed concern following the release of the report by the Committee on the Environment and Planning into the proposed Missing Middle Housing Reforms, warning that adopting the Committee’s recommendations risk delaying reforms that are critical to housing supply.
HIA Submission Intergenerational Housing Inquiry
Intergenerational housing inequity in Australia is best understood not as a failure of distribution, but as the predictable consequence of a persistent failure to deliver sufficient new housing.
Lifelong learning helps build a stronger industry for the future
The Housing Industry Association (HIA) has thrown its support behind the Jobs and Skills Australia drive to start a conversation about Australia’s lifelong learning needs and the specific learning dynamics and systems that are needed.
Northern Territory confirms it will now defer NCC 2025
The Northern Territory Government has confirmed that the National Construction Code (NCC) 2025 will not apply and NCC 2022 will continue to apply until a new edition of the Code is published.