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{{propApi.successMessage}} {{region}} Change locationStrong start to 2022 for new home sales
Strong start to 2022 for new home sales
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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 increased by 3.9 per cent in March 2022 compared to the previous month. This leaves sales for the first three months of the year lower by 2.8 per cent compared to the previous quarter,” added Mr Devitt.
“Excluding the period associated with the HomeBuilder stimulus, this is the second strongest quarter since 2016.
“Despite a difficult start to the year, with staff absences associated with the Omicron outbreak and extended holiday leave, new home sales continue to sustain levels usually associated with government stimulus.
“Demand for new homes continues to be driven by a shortage of homes and an acutely tight rental market that has resulted in rapid house price and rental price growth.
“Tighter lending conditions have had minimal impact on the market to date. With rental vacancies at close to zero demand for new homes will continue and an increase in the cash rate is likely to be the turning point for a slowing in demand.” concluded Mr Devitt.
On a quarterly basis, sales in New South Wales increased in the three months to March 2022 to be 78.5 per cent higher than the equivalent quarter in 2019, before the pandemic.
This was followed by Queensland (+33.3 per cent), Victoria (+19.1 per cent) and Western Australia (+15.4 per cent). South Australia saw the only decline over the period, down by 4.6 per cent.
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Policies threat to improving new housing market
“The number of loans issued for the construction or purchase of new housing increased in the June quarter 2026, for both owner occupiers and investors,” stated HIA Senior Economist, Tom Devitt.
New Sydney Plan welcomed by HIA
“HIA welcomes the finalisation of the new Sydney Plan which provides a 20-year framework for the future development of Sydney,” said Brad Armitage HIA NSW Executive Director.
Housing industry urges Government to keep SMSF finance flowing to new homes
The housing industry is calling on the Australian Government to allow self-managed super funds (SMSFs) to continue borrowing to build new homes, at least until the impact of its new borrowing restrictions on housing supply is independently assessed and made public.
Bragg NCC plan puts spotlight on need to stop the regulatory escalator
“HIA welcomes Senator Andrew Bragg putting National Construction Code reform squarely at the centre of the housing affordability and productivity debate,” said HIA Chief Executive – Industry & Policy, Simon Croft.