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{{propApi.successMessage}} {{region}} Change locationWA new home sales on track for recovery
WA new home sales on track for recovery
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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.
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HIA supports extension of HomeGrown Territory grants
“The Housing Industry Association (HIA) welcomes the extension of the HomeGrown Territory grants until September 2026, which will support more Territorians into their own home,” said Luis Espinoza, HIA’s Executive Director.
Housing industry welcomes new Albanese cabinet appointments
“The Housing Industry Association (HIA) welcomes the announcement of the new Ministerial cabinet, set out by the Prime Minister today, and in particular the expansion of the housing portfolio to take in the future cities planning and a separate special envoy focused on social housing and homelessness,” said HIA Managing Director, Jocelyn Martin.
Signs of a pulse in Canberra building approvals
Building approvals for dwellings in Canberra for the year to the end of March have shown some signs that the market may be turning the corner but still remain well below government targets.
Low volume of home building but labour shortages linger
“Australia has just seen its two weakest years of new home commencements in over a decade, meaning these ongoing shortages of skilled trades are not being caused by home building activity,” stated HIA Chief Economist, Tim Reardon.