{{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 foreshadow a weak 2024 for home building
New home sales foreshadow a weak 2024 for home building
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.
“This month’s decline leaves sales in the three months to July 2023 down by 33.4 per cent compared to the same period in 2022,” added Mr Devitt.
“Weak new home sales, together with an elevated number of previous sales being cancelled, reinforce the expectation that Australia will see a decade-low level of home building next year. Even a cut to the cash rate now would not produce a recovery in new house commencements until the second half of 2024.
"Underlying demand for housing continues to be supported by population growth, acute shortages of rental accommodation and strong employment figures.
“Meeting the appropriate levels of new housing for Australia’s current and future population will require changes to the other policies that inflate construction costs. These are not only interest rates, but also tax settings, land release and planning reforms, and macro-prudential rules that squeeze out owner-occupiers and investors alike.
“The National Cabinet’s recent announcement to increase its five-year housing supply target is a welcome step in the right direction.
“Coordination among all levels of government and the industry will be crucial to achieving this goal,” concluded Mr Devitt.
Compared to the previous month, sales in July 2023 decreased in most of the large states, led by Queensland (-11.6 per cent) and followed by Western Australia (-9.3 per cent), New South Wales (-1.6 per cent) and Victoria (-0.6 per cent). South Australia was the only state to see an increase (+35.5 per cent).
Similarly, sales in the three months to July 2023 decreased compared to the same period in 2022 across most of the large states. This was led by Queensland (-52.3 per cent) and followed by New South Wales (-48.4 per cent), Victoria (-37.2 per cent) and South Australia (-26.0 per cent). Sales in Western Australia on the other hand increased by 17.3 per cent.
Private New House Sales - Australia (seasonally adjusted)
For more information please contact:
Researchers give pre-apprenticeship training the nod
“Of the estimated 34,000 apprentices who will commence a construction trade apprenticeship this year, we expect fewer than 20,000 will make it through to complete their qualification. This must improve,” stated Geordan Murray, Executive Director - Future Workforce.
Stamp duty tax cuts extended what you need to know
The Victorian Government has extended its stamp duty concession for off-the-plan properties, providing continued financial relief for homebuyers. This initiative aims to support the housing market and make home ownership more accessible.
National Policy Competition Analysis
HIA provided a submission to the National Policy Competition analysis 2025.
Prioritising Mental Health in WA residential building industry
As West Australia’s residential building industry continues to grow and evolve, it’s important we take a step back and look at something we often overlook - our mental health.