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The HIA New Home Sales Report is a monthly survey of the largest volume home builders in the five largest states and the leading indicator of future detached home construction.
“New home sales in WA have increased again in April to be 8.6 per cent stronger than March and 37.1 per cent stronger than the previous quarter,” said Michael McGowan, HIA Executive Director WA.
“Even more encouragingly, sales are 9.8 per cent higher than the same quarter in 2022 and 40.3 per cent higher than at the depth of the pre-COVID building trough in the same quarter in 2019.
“These results show the intensity of housing demand in WA remains strong. This is a very positive sign that WA’s housing industry is on the road to recovery despite the 11 interest rate rises handed down from the RBA,” said Mr McGowan.
The HIA New Home Sales Report shows national sales of new homes increased by 6.8 per cent in April compared to the previous month. This sees sales for the three months to April stable compared to the previous three months (down by 0.4 per cent) but down by 42 .8 per cent compared to the same time the previous year.
“WA’s recovery is unique as the monthly rise in sales is consistent with longer-term trends, and an indication of the strong demand in the market,” said Mr McGowan.
“Our challenge continues to be supply, and the State Government’s budget commitments to supporting skilled migration and apprentices will help rebuild the workforce for a stronger and more sustainable residential housing industry.
“It is important that WA maintains a healthy home building market for the benefit to all Western Australians and all aspects of the Western Australian economy,” concluded Mr McGowan.
The Housing Industry Association (HIA) has appeared today at the Senate Inquiry into Climate Risk Assessment to advocate that the Federal government should drive a national, coordinated plan to make Australia’s homes stronger and safer in the face of a changing climate.
Opening statement by Simon Croft, Chief Executive Industry & Policy
Eligible small businesses in NSW can apply to SafeWork NSW for a rebate of up to $1,000 on the purchase of safety items. This includes items to help control exposure to silica dust.
The Productivity Commission’s (PC) Five Pillars of Productivity Inquiries take place against a backdrop of flatlining productivity in Australia, which is only set to erode living standards if not addressed. This HIA submission is in relation to the first pillar of the set of inquiries, titled ‘creating a more dynamic and resilient economy’.