{{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 locationNew home sales remain at rock bottom
New home sales remain at rock bottom
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.
“With sales relatively stable, albeit at extraordinarily low levels for six months, it does appear that the market has reached rock bottom,” added Mr Reardon.
“This sees sales for the three months to April stable compared to the previous three months.
“This suggests that sales may have levelled out and reached a floor, barely more than half their levels from a year earlier.
“The cancelation rate remains elevated with more than one new home project cancelled for each four new homes sold per month. This is its highest level since the start of the pandemic and is resulting in an accelerated decline in the pool of work sold, but not commenced.
“The RBA’s rate increases last year and this year will continue to hold down new home sales and cause further cancellations as finance becomes unobtainable for an increasing number of buyers.
“Sales of new homes fell in all states in the three months to April except for Western Australia. Sales in Western Australia were higher in the three months to April (+37.1 per cent) than in the previous three months and year (+9.8 per cent).
“Of note, sales in Western Australia in the three months to April 2023 were 40.3 per cent higher than at the same time in 2019. This is an encouraging sign that this market may defy the best efforts of the RBA,” concluded Mr Reardon.
Over the last year, NSW has seen the largest declines, with sales in the April quarter down by 70.5 per cent on the same quarter in the previous year. This was followed by Queensland (-51.7 per cent), Victoria (-46.3 per cent) and South Australia (-13.7 per cent). Western Australia saw the only increase over this period of 9.8 per cent.
Private New House Sales - Australia (seasonally adjusted)
For more information please contact:
Land prices a roadblock to 1.2 million homes target
“The median price of residential land sold nationally jumped by 6.8 per cent over the 2024/25 financial year, more than three times faster than consumer price inflation over the same period,” stated HIA Chief Economist Tim Reardon.
Time to stop playing politics and fast track overdue EPBC reforms
“The Housing Industry Association (HIA) is calling on all parties to park the games and fast track the delivery of the long overdue EPBC reforms by the end of this year,“ HIA Managing Director, Jocelyn Martin said today.
Audit must not slow delivery of new homes under HAFF
The Housing Industry Association (HIA) welcomes the announcement of an audit into the Housing Australia Future Fund (HAFF) but cautioned that the review should not delay or derail the urgent task of increasing Australia’s housing supply, HIA Managing Director Jocelyn Martin said today.
Rezoning paves the way for Gosford City Centre transformation
“The announcement that the NSW Government will fast-track a major rezoning of Gosford City Centre, unlocking 1,900 new homes across 283 hectares, provides an exciting opportunity for the Central Coast,” commented HIA Hunter Executive Director, Craig Jennion.