{{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 locationDecline in new home sales accelerates
Decline in new home sales accelerates
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
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 of new homes fell by 4.6 per cent in December leaving sales in the final quarter of 2022 a remarkable 42.0 per cent lower than at the same time in 2021,” added Mr Reardon.
“This slowing in sales will flow though to a slowdown in building activity in the second half of 2023.
“When this hiking cycle began, there was a significant pipeline of home building work under construction, and many more projects yet to even begin construction. This has created a significant lag in the RBA’s impact on employment across the economy.
“The rise in the cash rate has also seen many recent buyers of new homes unable to finance their new project.
“This resulted in one in five recent new home buyers having to cancel their new home building contract as their access to finance was reduced by the rise in the cash rate.
“With one in five customers cancelling their new home building project each month, the pipeline of building work will be eroded quickly.
“Once this pipeline of new home construction work is exhausted, the full impact of the RBA’s rate increases will become apparent. This is expected to occur in the second half of 2023.
“A cut to the cash rate will be necessary in 2023 to avoid an unnecessarily sharp downturn in building activity.
“The RBA will not restore the economy to stable growth by putting the housing industry through boom-and-bust cycles,” concluded Mr Reardon.
For the three months to December 2022, compared to the same period in 2021, new home sales in New South Wales were down by 66.7 per cent, followed by Queensland (-49.9 per cent), Victoria (-36.4 per cent), and Western Australia (-30.9 per cent). South Australia saw the only increase, up by 13.9 per cent.
Private New House Sales - Australia (seasonally adjusted)
For more information please contact:
Support for local manufacturing critical for delivery of home building targets
“The Housing Industry Association (HIA) is backing calls for a dedicated energy security and supply plan to support Australia’s building product manufacturing sector, acknowledging their critical importance to our economy and providing the essential products for our homes,” HIA Chief Executive – Industry and Policy, Simon Croft, said today.
Green shoots on clearing EPBC housing backlogs
“The Housing Industry Association (HIA) welcomes the announcement of over 4,600 new homes approved for construction under the national environmental laws, since August this year,” said HIA Chief Executive, Industry and Policy, Simon Croft.
HIA launches inaugural Safety Summit in Newcastle
October marks the beginning of National Safe Work Month – a time for us all to pause, reflect, and reinforce our commitment to creating a safe and healthy workplace for everyone,” said HIA Hunter Executive Director Craig Jennion.
Managing psychosocial hazards and risks at work
The Victorian government has introduced changes to OHS regulations that expressly requires employers to identify psychosocial hazards and how they intend to manage the risks to health and safety.