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{{propApi.successMessage}} {{region}} Change locationNew Home Sales Volumes Remain Low
New Home Sales Volumes Remain Low
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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 is a leading indicator of future detached home construction.
“The spike in sales that emerged in September, caused by regulatory changes in NSW, was more than reversed in October,” added Mr Devitt.
“Buyers rushed to get ahead of NSW regulations that will add significantly to the cost of a new home, causing an extraordinary spike in sales in the state in September.
“This drawing forward of home purchasing decisions is anticipated to continue weighing on sales over coming months.
“The sales performance in October was consistent with the weakness observed throughout 2023 and will see new house starts continue to decline.
“Interest rates continue to weigh on confidence, with the industry headed for its weakest year of new house commencements in over a decade.
“The RBA’s November decision to continue the steepest hiking cycle in a generation, risks further deepening and prolonging this trough in home building.
“This coincides with Australia’s deepening housing crisis, with record population growth and acute rental shortages reflecting the need for a strong pipeline of new housing supply.
“Increasing the supply of homes will require policymakers to help lower the cost of building. This means reforms to tax, land release and planning, and loosening macro-prudential rules that squeeze out owner-occupiers and investors alike,” concluded Mr Devitt.
New home sales across Australia in the three months to October fell by 5.8 per cent compared to the same quarter in the previous year. By jurisdiction, sales were similarly down in South Australia (-20.1 per cent), New South Wales (-17.4 per cent), Queensland (-15.0 per cent) and Victoria (-13.8 per cent). Sales in Western Australia increased by 42.2 per cent compared to the same three-month period in 2022.
Private New House Sales - Australia (seasonally adjusted)
Third round HAFF funding important boost to the program
“It is pleasing to see today’s announcement of the opening of the third round of funding grants from the Housing Australia Future Fund (HAFF) to boost the delivery of much needed housing for those who require it most,” said HIA Managing Director, Jocelyn Martin.
Third round HAFF applications open
The Federal Government, through Housing Australia, has announced that the third round of the Housing Australia Future Fund (HAFF) funding, is now open for applications.
TasWater headworks proposal risks housing affordability
Today, HIA spoke to media regarding TasWater’s proposal to nearly double developer headworks charges for new residential connections from $3,514 to $7,048 per connection from 1 July 2026.
TasWater headworks proposal risks housing affordability and new home supply
The Housing Industry Association (HIA) today called on the Tasmanian Economic Regulator to closely scrutinise TasWater’s plan to almost double developer headworks charges for new residential connections—from $3,514 to $7,048.