Housing industry insights
Advocacy & policy
News & inspiration
Support & guidance
Member perks
Industry insurance
For your business
Apprentices
Building it right
Managing your business
Managing your safety
Building your business
Other subjects
A rewarding career
Study with us
A job in the industry
Grow with us
Our podcasts
Our initiatives
Get involved
Awards
Awards winners
Industry events
Most popular products
Top categories
For your business
{{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 locationLending for home building continues to fall under RBA pressure
Lending for home building continues to fall under RBA pressure
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
Send me exclusive tips, early access to new launches, and special offers. I can change my mind at any time.
By clicking Get started now you agree to the terms and conditions and privacy policy.
The ABS released the Lending to Households and Businesses data for October 2023 today, which provides statistics on housing finance commitments.
“Lending for the construction and purchase of new homes in October rose 1.8 per cent compared to the previous month.
“This leaves lending for the construction and purchase of a new home 22.4 per cent lower than at the same time the previous year and at their lowest level since the GFC,” stated Mr Reardon.
“This low volume of lending has been sustained since the start of 2023 and will see new home construction continue to slow through 2024, despite the need to increase the supply of new homes.
“This poor result was recorded before the rise in the cash rate in November.
“There is no justification for further rate increases. Leading indicators of activity all show that the rise in the cash rate will cause activity to slow in 2024.
“The RBA needs to pause on any further rate increases and wait for the full impact of their actions to date to flow through to the wider economy.
“Not only are rising rates making it harder to address the acute shortage of housing stock, but the loss of skilled trades from the building industry will also make a recovery in home building increasingly slow.
“The industry requires stable and reliable economic settings to avoid an ongoing market roller coaster,” concluded Mr Reardon.
In original terms, the total number of loans for the purchase of construction of new homes in the three months to October 2023 declined in all jurisdictions compared to the same quarterly period a year earlier, led by the Northern Territory (-58.2 per cent) and the Australian Capital Territory (-53.6 per cent) and followed by New South Wales (-29.3 per cent), Tasmania (-29.2 per cent), Victoria (-25.9 per cent), Queensland (-20.1 per cent), South Australia (-18.9 per cent) and Western Australia (-1.5 per cent).
Lending for purchase and construction of a new home
For more information please contact:
Housing industry's best set to shine at Parliament House
The region's finest in residential building and renovation will be recognised tomorrow night as the 2026 HIA ACT Southern NSW Housing, Kitchen & Bathroom Awards are held at Parliament House in Canberra.
An exciting opportunity to shape Canberra's next suburb
The Housing Industry Association has welcomed the opening of community consultation on Ginninderra East, encouraging Canberrans to help shape the future suburb on former CSIRO land between Belconnen and Gungahlin.
Information Sessions for Framed Construction
With the current brick shortage creating challenges across WA’s residential building industry, some builders are exploring alternative construction methods to help keep projects moving.
Productivity Commission backs practical relief for small builders – but the biggest barriers remain off the table
The Housing Industry Association (HIA) welcomes the release of the Productivity Commission’s interim report, Unlocking business dynamism, that proposes reforms that has the potential to help small residential builders and trade contractors comply, restructure and recover.