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{{propApi.successMessage}} {{region}} Change locationNew home sales fell in November
New home sales fell in November
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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.
“Nationally, new home sales fell by 10.1 per cent in the month of November, offsetting the strong 8.8 per cent rise in sales in October,” added Mr Tapang.
“All indicators show an improvement in market confidence through the course of 2024. It is now more than twelve months since the last rate rise and leading indicators of building activity, including new home sales, suggest a modest improvement in the volume of new homes commencing construction is likely to emerge in 2025.
“New home sales in the last twelve months to November were 8.2 per cent higher than in the previous year. This improvement is from a very low base.
“Stabilising home building materials costs, a return to normal build timeframes, low unemployment and unchanged cash rate settings have provided the certainty that new home buyers need.
“The rise in sales has been geographically dispersed, with markets such as Queensland, South Australia and Western Australia faring better than the two largest states.
“This comes as these markets continue to experience stronger than usual population growth. Interstate migration into Queensland and Western Australia in particular remains strong.
“Rising new home sales has also been flowing through housing approvals data, particularly in Western Australia where sales have begun increasing in late 2023 and early 2024.
“As the volume of established homes available for purchase and rent remains inadequate to service growing demand, buyers are increasingly returning to the new home market,” concluded Mr Tapang.
“Sales in South Australia in the three months to November 2024 rose by 31.8 per cent compared to the same time in the previous year. This was followed by Queensland (+19.7 per cent) and Victoria (+0.8 per cent). Sales in Western Australia in the three months to November 2024 fell by 29.1 per cent compared to the previous year, followed by New South Wales (-7.3 per cent).
Private New House Sales - Australia (seasonally adjusted)
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Detached house approvals picking up
“There were 9,490 detached homes approved in the month of April 2025, up by 3.3 per cent compared to the previous month,” stated HIA Senior Economist Maurice Tapang.
State Budget is a missed opportunity to stimulate housing
The Treasurer has handed down the 2025/26 Tasmanian Budget. The Budget focuses on alleviating cost of living pressures, health, education and infrastructure, while mapping out a path to a fiscal balance surplus in 2032/2033.
HIA supports bipartisan approach to planning reform NSW
“The NSW planning system has failed to deliver the number of homes we desperately need and we fully support removing the politics from housing, to address this growing crisis,” said Brad Armitage, HIA Executive Director NSW.
Opposition pledge to remove stamp duty for first home buyers welcomed (Vic)
The Victorian Opposition’s announcement that it would remove stamp duty for first-home buyers spending up to $1 million on a new or existing home if elected at next year’s state election, is a positive step towards improving home affordability,” says Steven Wojtkiw, HIA Victoria Deputy Executive Director.