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.
If you are having problems logging in, please call HIA helpdesk on 1300 650 620 during business hours.
Enables quick and easy registration for future events or learning and grants access to expert advice and valuable resources.
Enter your details below and create a login
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.
“Sales fell sharply in all regions for October,” added Mr Reardon.
“Sales of new homes had already fallen 15.8 per cent nationally in the three months to the end of September, due to the increases in the cash rate starting in May 2022.
“The increase in interest rates is compounding the rise in the cost of new home construction and further reducing the capacity of borrowers to finance the build of a new home.
“Despite the fall in sales over the past four months, there remains a significant volume of home building under way, and many homes still to commence construction. This will ensure that work on the ground remains strong through 2023.
“But it is very clear, even before the October and November increase in the cash rate start to impact on sales, that this building boom is coming to an end.
“The full effect of the November 2022 increase in the cash rate is not likely to flow through to new home sales fully, until June 2023.
“The consequence of the fastest increase in the cash rate in almost 30 years will see detached home building activity slow to its lowest level in a decade by 2024.
“If the RBA doesn’t ease the cash rate in 2023, the Government’s goal of building 1 million homes in five years will be very difficult,” concluded Mr Reardon.
For the three months to October 2022, compared to the previous three months, new home sales in Queensland were down by 31.9 per cent, Victoria down by 22.8 per cent; New South Wales down by 19.6 per cent; and Western Australia down by 9.1 per cent. South Australia saw the only increase, up by 13.9 per cent per cent.
HIA is calling on the Federal Government to act urgently to support Australia’s building product manufacturers and suppliers, an industry worth more than $130 billion and critical to the delivery of new housing across the country,” HIA Managing Director, Jocelyn Martin said today.
With the delay to decisions on the content of NCC 2025, the ABCB has published a further amendment to the current NCC 2022 which applies from 29 July 2025. The purpose of this minor amendment is to align the NCC with recent changes to the Premises Standards which apply to Class 3 to 9 public buildings, common areas of Class 2 apartment buildings and short-term accommodation
“HIA alongside a group of construction leaders and Standards Australia came together today at Parliament House, to present a united front in getting easier access to Australian Standards in the hands of those who need them most,” said HIA Managing Director, Jocelyn Martin.
HIA has made a comprehensive suite of submissions to the Productivity Commission ahead of the upcoming Treasurer’s Economic Reform Roundtable on 19-21 August.