{{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 locationHouse approvals continue to rise
House approvals continue to rise
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 Australian Bureau of Statistics today released its monthly building approvals data for August 2024 for detached houses and multi-units covering all states and territories.
“Detached house approvals rose by 0.6 per cent compared to July. House approvals in the three months to August 2024 were 11.2 per cent higher compared to the same time the previous year,” added Mr Reardon.
“The steady increase in detached house approvals is offsetting a low volume of multi-unit approvals and total dwelling approvals in the three months to August 2024 were 5.0 per cent higher compared to same time in the previous year.
“Rising tax imposts on foreign investors and rising regulatory costs are compounding the challenges for apartment builders.
“It has been almost eleven months since the last increase in the cash rate. Stable interest rate settings have provided the certainty needed to see a rise in home building confidence.
“This is complemented by stabilising price growth for building materials, a return to normal build times, strong housing demand and low unemployment.
“Detached house approvals in Perth and Brisbane are faring much better than in Sydney and Melbourne. Confidence in the Melbourne new home market has been adversely impacted by two new taxes.
“The Australian Government cannot tax its way out of achieving the agreed national target of 1.2 million new homes.
“Recent discussions on negative gearing and capital gains tax arrangements for residential property will undermine confidence in new home building.
“The government’s focus should be on lowering the taxes, regulatory costs and excessive charges that make up as much as 50 per cent of the final cost of a house and land package,” concluded Mr Reardon.
House approvals over the three months to August 2024 increased by 47.5 per cent in Western Australia compared to the same time in the previous year. This was followed by Queensland (+19.7 per cent), South Australia (+10.0 per cent) and Victoria (+8.4 per cent). The other jurisdictions recorded a decline over the same period, led by the Australian Capital Territory (-18.6 per cent), followed by Tasmania (-17.8 per cent), New South Wales (-7.6 per cent) and the Northern Territory (-6.8 per cent).
Monthly Building Approvals - Australia
For more information please contact:
Stable construction cycle trajectory to continue in the Hunter
The Housing Industry Association (HIA) held yesterday an Outlook Breakfast in Newcastle to provide industry with the latest economic data, discuss HIA’s forecasts and share key insights in the residential construction sector.
Asbestos Awareness Week: reminder to remain vigilant on asbestos safety
“National Asbestos Awareness Week provides an important reminder as we head into end of year, when people may be looking to undertake renovation or DIY work on older properties and the need to be vigilant in managing safety on site,” Jocelyn Martin, HIA Managing Director, said today.
HIA welcomes new HAFF funding but warns delivery the real challenge
The Housing Industry Association (HIA) welcomes the announcement that Round 3 of the Housing Australia Future Fund (HAFF) facility will open early next year, expanding the pipeline of social and affordable housing projects, HIA Managing Director Jocelyn Martin said today.
Tropical Cyclone Fina
The Bureau of Meteorology has officially forecast Tropical Cyclone Fina to reach Category 3 intensity. There is a Cyclone warning currently in place for Top End coastal communities, including Darwin. Strong gale winds and rain are expected, as well as storm surge or tides.