{{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 locationSales of new homes in February remain low
Sales of new homes in February remain low
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 in the month of February rose by 14.3 per cent compared to the previous month but remain exceptionally low,” added Mr Reardon.
“Sales of new homes stalled late in 2022 as the adverse impact of the RBA’s rate increases continue to erode market confidence.
“When the cash rate started to rise in May 2022 there was a very large pool of work to commence construction. This pool of work yet to commence is shrinking quickly as new sales remain very low and the number of new projects entering the pipeline falls.
“Tighter access to finance and a higher cash rate is seeing many new home buyers withdraw from the market. Customers that received approval to build a new home early in 2022 are cancelling these projects as the cost-of-living bites and banks withdraw financing.
“Without an improvement in access to finance, or a lowering of rates, the number of new homes commencing construction will slow later this year.
“The RBA isn’t going to return the economy to stability by putting the building industry through boom-and-bust cycles,” concluded HIA’s Chief Economist, Tim Reardon.
For the three months to February 2023, compared to the same period the previous year, new home sales in New South Wales were down by 76.6 per cent, followed by Queensland (-51.2 per cent), Victoria (-42.3 per cent), Western Australia (-14.8 per cent) and South Australia (-6.0 per cent).
Private New Home Sales - Australia (Seasonally Adjusted)
For more information please contact:
APRA's handbrake could exacerbate inequities in wealth
The following comments can be HIA’s Chief Economist, Tim Reardon in relation to the APRA announcement to limit lending.
Progress on EPBC reform positive but implementation now critical
“The Housing Industry Association (HIA) is pleased to see progress on the long-awaited and much debated EPBC Act reforms, though the final details on the new laws and how they will be implemented now become critically important,” HIA Managing Director Jocelyn Martin said today.
Changes to building permit applications commence
The Victorian Government has just announced changes to the method of calculating the cost of building work for building permit applications. The changes aim to ensure that the building permit levy is only charged for actual building work.
Last chance to contribute to HIA small business survey
Members are being asked by HIA to provide feedback on industry conditions and outlook in the 2026 HIA Small Business Conditions survey.