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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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Home building materials prices still slower than CPI
“Home building materials have continued to experience only modest cost increases, up by 1.6 per cent in the 2024/25 financial year,” stated HIA Senior Economist, Maurice Tapang.
Productivity Commission backs HIA calls for major regulation overhaul
“Today’s interim report from the Productivity Commission overwhelmingly backs what HIA has long been saying - that the regulatory burden on businesses is getting worse in this country and there is need for a major overhaul on the approach to regulation,” said HIA Managing Director, Jocelyn Martin.
HIA welcomes key findings of interim Productivity Commission’s report
“The Housing Industry Association (HIA) welcomes the release of the Queensland Productivity Commission’s interim report into construction productivity It is a significant and necessary step toward overcoming the housing supply challenges facing Queensland,” said Michael Roberts, HIA Executive Director Queensland.
Building approvals pick up 2024/25
“New home building approvals in the 2024/25 financial year were up by 13.9 per cent compared to their 2023/24 trough,” stated HIA Senior Economist Tom Devitt.