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.
If you are having problems logging in, please call HIA helpdesk on 1300 650 620 during business hours.
Enables quick and easy registration for future events or learning and grants access to expert advice and valuable resources.
Enter your details below and create a login
The Australian Bureau of Statistics today released its monthly building approvals data for March 2024 for detached houses and multi-units covering all states and territories.
“The mismatch between rising demand from migration and constraints on the supply of housing is likely to see the acute shortage of housing stock continue to deteriorate,” added Mr Reardon.
“Higher density housing development is being constrained by labour, material and finance costs and uncertainties, as well as cumbersome planning rules and punitive taxes, especially on foreign investors.
“This lack of new work entering the construction pipeline is occurring alongside record inflows of overseas migrants and a pre-existing acute shortage of rental accommodation across the country.
“The positive news is that for the past 12 months the volume of detached building approvals has remained relatively stable, al be it at their lowest level for a decade.
“There is growing evidence that the volume of new detached homes commencing construction will reach a trough in 2024, albeit, at its lowest level since 2012.
“The volume of detached approvals nationally rose for the second consecutive month, to be 0.7 per cent higher than it was in the same quarter in 2023.
“Rising interest rates is the key factor slowing building activity, but there is an increased divergence evident in some states. Those able to deliver low cost land are seeing more modest slowing in activity.
“Approvals for new houses in Western Australia contrast with the rest of the country and have been increasing steadily since mid-2023. House approvals in Western Australia are now 33.2 per cent higher than in the same quarter the previous year.
“It is possible to build the Australian Government’s target of 1.2 million homes over the next five years, but it will require significant lowering of taxes on home building, easing pressures on construction costs, and decreasing land costs,” concluded Mr Reardon.
In seasonally adjusted terms, dwelling approvals in the three months to March increased in Western Australia, up by 38.5 per cent compared to the previous year, and in New South Wales (+7.7 per cent). Other jurisdictions saw declines in approvals, led by Queensland (-17.6 per cent), followed by South Australia (-9.0 per cent) and Victoria (-1.9 per cent). In original terms, dwelling approvals declined in the Northern Territory (-46.2 per cent), the Australian Capital Territory (-14.6 per cent) and Tasmania (-5.4 per cent).
The Housing Industry Association (HIA) is urging the government to hit pause on the proposed Free TAFE Bill 2024. While the initiative promises to address critical skills shortages, HIA believes the plan needs a comprehensive review before it’s locked into law.
HIA provided a response to the Senate Education and Employment Committees on the inquiry into the Free TAFE Bill 2024.
The Housing Industry Association (HIA) welcomes the Coalition’s announcement allowing first home buyers to access up to $50,000 of their superannuation to purchase a home. This initiative represents a meaningful step towards addressing the significant barriers to home ownership faced by young Australians,” stated HIA Managing Director, Jocelyn Martin.
On behalf of all of us at HIA we would like to wish you a very happy 2025! As everyone heads back to work for the new year, we are sharing some exclusive member updates to get you ready for what lies ahead.