{{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 locationSales of new homes weak for the start of 2024
Sales of new homes weak for the start of 2024
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 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.
“New home sales increased by 4.9 per cent in March compared to the previous month. This increase kept sales flat in the first three months of 2024 compared to the previous quarter,” added Mr Devitt.
“Concerningly, sales in the first three months of this year remain 41.3 per cent below the same quarter in 2021, 18.2 per cent below the same quarter in 2020, and 18.9 per cent below the same quarter in 2019.
“There is an increasing divergence at a state level, as those markets with higher land prices endure a larger downturn in home sales.
“Sales in New South Wales and Victoria in the first three months of 2024 remain down significantly compared to recent years, including sales falling by 48.7 per cent and 32.7 per cent respectively, compared to the same quarter in 2019.
“The higher land costs in New South Wales and Victoria is the principal reason why sales in these markets are more significantly affected by the rise in the cash rate.
“Lowering the cost of delivering new homes to market is essential to achieving the Australian government’s target of 1.2 million new homes over the next five years,” concluded Mr Devitt.
New home sales in the month of March declined only in New South Wales (-21.6 per cent). The rest of the large states saw monthly increases, led by South Australia (+14.2 per cent), followed by Western Australia (+10.3 per cent), Victoria (+10.1 per cent) and Queensland (+2.3 per cent).
Sales in the three months to March 2024 increased compared to the previous year in Queensland (+41.0 per cent), Western Australia (+25.6 per cent), New South Wales (+21.3 per cent) and South Australia (+4.4 per cent). Victoria was flat (-0.2 per cent) over the same period.
Private New House Sales - Australia (seasonally adjusted)
For more information please contact:
NSW Heritage Strategy Submission: Aligning Heritage and Housing for Sustainable Growth
HIA supports the NSW Government’s draft Heritage Strategy, advocating for better alignment between heritage and planning systems to support new housing development and sustainable growth across the state.
Delivering more with One House One Approval
Home ownership is the bricks and mortar that has helped Australia build a stable and vibrant society, but the opportunity to own a home in Australia is a challenge.
A boost to skills is a boost to productivity
“Construction skilled tradespeople remain in high demand, with the shortage remaining more acute than anytime pre-pandemic,” stated HIA Chief Economist, Tim Reardon.
NSW Housing Pattern Book – A potential game changer for industry
“The NSW Housing Pattern Book could revolutionise the way we look at planning in NSW,” said Brad Armitage, HIA Executive Director NSW.