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{{propApi.successMessage}} {{region}} Change locationNew home sales up by 11 per cent on last year
New home sales up by 11 per cent on last year
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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.
“New home sales fell back marginally by 4.1 per cent in July, however sales this year remained stronger than at the same time in the previous year,” added Mr Tapang.
“This is consistent with our expectations that detached home building will pick up pace in the second half of 2024.
“Queensland saw a 15.6 per cent increase in new home sales in July 2024 compared to the previous month. This leaves sales over the past three months 60.1 per cent higher than at the same time the previous year.
“Sales in South Australia were 55.8 per cent higher in the three months to July 2024 than at the same time in the previous year, despite a monthly decline.
“New home sales in Western Australia remain elevated, despite a fall in recent months, as this market is constrained only by the capacity of the industry, not demand.
“Sales of new homes in New South Wales and Victoria are continuing to bounce along the bottom of their respective cycles.
“The rise in interest rates hurts these markets, particularly in Sydney and Melbourne, more significantly due to the higher costs of land.
“These sales figures suggest that the improved number of homes commencing construction across Australia will be driven by smaller markets outside of Sydney and Melbourne.
New home sales in the three-month period to July 2024 increased in Queensland by 60.1 per cent compared to the same time in the previous year, followed by South Australia (+55.8 per cent), New South Wales (+17.5 per cent), and Western Australia (+1.4 per cent) which is coming off a higher base. Victoria recorded a 13.3 per cent decline over the same period.
Private New House Sales - Australia (seasonally adjusted)
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New rules add thousands to the cost of a new home as Tasmania falls years behind on housing
From today, every new home built in Tasmania must meet the full Livable Housing Design requirements. The Housing Industry Association says this adds thousands of dollars to the cost of building a home, at a time when Tasmanians can least afford it.
Rules for managing the risk of falls have changed - are you up to date?
Changes to Western Australia's requirements for managing the risks of falls will commence on 1 October 2026, introducing new expectations for builders, contractors and workers undertaking tasks where there is a risk of falling.
Livable Housing Design: final stage now in force
As of today, 1 October 2026, all new building work in Tasmania, unless exempt, must comply with all requirements of Part H8 Livable Housing Design of NCC Volume Two.
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