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{{propApi.successMessage}} {{region}} Change locationHIA reveals Australia’s largest home builders for 2023/24
HIA reveals Australia’s largest home builders for 2023/24
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The HIA-COLORBOND® steel Housing 100 Report, launched this morning, ranks Australia’s largest 100 residential builders based on the number of homes commenced each year.
“Metricon Homes reported a total of 3,894 new home sales across four states during the 2023/24 despite a market slowdown in demand due to the rise in interest rates.
“In second place this year, with just 13 fewer home sales for the year, is the ABN Group. Stronger market conditions in Western Australia and growth in Victoria have seen ABN consolidate their hold as second largest home builder, with 3,881 homes.
“This is the tightest result in the 35 year history of this Report.
“Meriton Apartments rounded out the top three with 3,291 starts shared across New South Wales and Queensland, this was a jump from fourth place last year.
“Meriton Apartments was also the top ranked apartment builder in the country with 3,277-unit sales. Multiplex ranked as the second largest apartment builder with 2,244 homes built, ahead of the Hutchies with 1,745.
“Market confidence is returning to the new home market as interest rates remained on hold for the tenth consecutive month. Low levels of unemployment and strong population growth have driven ongoing demand for new homes, despite the increase in the cost of borrowing and a decline in household consumption. The recovery in market confidence isn’t evenly distributed across each jurisdiction, and this has had an impact on the results of this year’s Housing 100.
“Leading indicators suggest that the volume of home building activity is set to increase in the second half of 2024 and into 2025.
“Increasingly the outlook for home building is dominated by local factors such as the price of land and state government taxes. For this reason, a recovery in building activity in New South Wales appears set to lag all other jurisdictions.
“At the other end of the spectrum, Queensland, Western Australia and South Australia appear set to see an increase in building activity. Population growth through the pandemic and then a return of overseas migration have seen a stabilisation of building levels in 2023/24 similar to that seen immediately prior to the pandemic. This bodes well for a more stable return to building activity in future years,” concluded Mr Reardon.
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