{{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 commencements in 2023 were the lowest since 2012
New home commencements in 2023 were the lowest since 2012
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 this week released its building activity data for the December Quarter 2023. This data provides estimates of the value of building work and number of dwellings commenced, completed and under construction across Australia and its states and territories.
“There were 30,062 detached houses that completed construction in the December Quarter 2023, but only 23,893 new houses commencing construction,” added Mr Reardon.
“This was one of the strongest quarters of house completions of the last five years, up by 4.3 per cent compared to the previous quarter to produce a total of 114,178 completions in 2023 calendar year.
“New house commencements, however, have been declining for over two years, with a small 2.9 per cent uptick in the December quarter after an unexpectedly weak September quarter. This resulted in just 99,708 new detached house commencements in 2023, the lowest in a calendar year for a decade.
“With commencements at a decade low and completions at elevated levels, the result is that the volume of houses under construction is falling rapidly. The volume of homes under construction fell by 7.9 per cent in the December quarter albeit from record high levels over recent years.
“Commencement of multi-units also remains around decade lows, with a 2.1 per cent decline in the December quarter bringing the calendar year to 63,004, even lower than the 63,022 in 2022. These are the two weakest years for multi-unit commencements since 2012.
“This slowing in home building will drag on national economic growth in 2024.
“This has been an incredibly well broadcast housing downturn, with a 2024 trough in detached housing commencements predicted back in May 2022 when the RBA first started increasing interest rates.
“This lack of new work entering the pipeline is occurring at the same time that Australia is experiencing record population growth on top of a pre-existing and acute shortage of housing,” concluded Mr Reardon.
For more information please contact:
80% of builders expect home building to slow after Budget decisions
“Sales of new homes declined for a second consecutive month, down by 4.6 per cent in June, as higher interest rates and policy uncertainty continue to weigh on consumer confidence,” added Mr Reardon.
Industry leaders to explore homes of tomorrow at HIA Future Homes Forum
Australia's residential building industry will gather in Melbourne tomorrow for the HIA Future Homes Forum, a landmark event bringing together leading thinkers, builders, designers and innovators to explore the technologies, materials and consumer trends shaping the next generation of housing.
HIA calls for urgent reform of Tasmania’s Protection Work framework
The Housing Industry Association (HIA) is calling on the Tasmanian Government to urgently reform Tasmania's Protection Work framework, warning the current system is creating unnecessary delays, increasing costs and exposing builders and owners to uncertainty and risk.
Senate Select Committee on Productivity
Opening statement by Simon Croft, Chief Executive Industry & Policy