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HIA’s Housing Scorecard benchmarks contemporary levels of activity in each state and territory against long term averages across indicators of home building and renovations activity, lending data and population flows.
“Population flows from overseas and interstate, into both North Queensland and the Southeast corner, have supported home buying activity in the state,” added Mr Tapang.
“Strong demand amid limited supply has led to a rise in residential building activity in Queensland, including both new homes and renovations.
“Following Queensland in these rankings are Western Australia and South Australia, where there is strong ongoing demand for building new homes.
“Exceptionally low unemployment rate, strong population growth and stable interest rates have sustained the key dynamics necessary for strong demand for new home building.
“With this relatively stable macro-dynamic, it will increasingly be state government policies and economic outlooks that will determine the strength of home building over the short to medium term.
“Just as state and local government policies set the limit to the floor in this cycle, the diverging outlook between home building markets will also be determined by the same policy decisions.
“States that are able to offer employment opportunities and more affordable residential land will see a stronger outlook for home building activity in coming years.
“As it stands, the momentum of ongoing population growth and home building in Western Australia could see it top this Scorecard in 2025,” concluded Mr Tapang.
Download our HIA Housing Scorecard
Queensland’s home building industry gathered in celebration as the 12th annual HIA Queensland Building Women Awards honoured outstanding achievement, leadership and influence, shining a spotlight on the remarkable contribution women are making to building more homes across the state.
The Housing Industry Association (HIA) will bring together industry leaders, businesses, community representatives and policymakers in Ballarat on Tuesday for a regional housing roundtable focused on the critical role housing will play in supporting the future growth and prosperity of regional Victoria.
The HIA has been advised that due to an increase of plumbing audit inspection failures, from the 1st of September, the Office of the Technical Regulator (OTR) will be further policing non-compliance in the installation of sanitary plumbing and drainage pipework, namely the bedding of sanitary drainage pipes.
The Housing Industry Association (HIA) has welcomed the establishment of the Senate Economics References Committee Inquiry into social housing, describing it as an important opportunity to identify the reforms needed to deliver more housing of all forms at scale and address the bottlenecks holding back housing supply broadly.