{{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 locationStable conditions boost new home sales in 2024
Stable conditions boost new home sales in 2024
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 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.
“Interest rate stability, low levels of unemployment, strong population growth and improvements in real wages helped boost new home sales from its trough, increasing by 8.2 per cent in 2024,” added Mr Tapang.
“It is now almost fifteen months since the RBA last raised interest rates. New home buyers are slowly returning to market amid expectations of rate cuts this year.
“The recent rise in new home sales has also been geographically dispersed, driven by those markets outside of the two largest states, New South Wales and Victoria.
“Western Australia was the first market to see a notable increase in new home sales last year, with a slowdown in sales in 2024 coming as a result of capacity constraints.
“Queensland and South Australia followed, recording the strongest growth in new home sales across all markets in 2024, off their troughs in the previous year.
“The volume of new homes sold in Victoria was virtually unchanged in 2024 compared to the previous year. Sales in Victoria have yet to pick up remarkably since the pull-forward in sales in April 2024 due to regulatory changes.
“New South Wales recorded an 11.8 per cent increase in the 2024 calendar year, albeit from very low levels in 2023 when sales fell by more than 50 per cent.
“The high cost of residential land, particularly in Sydney, is preventing New South Wales from seeing a stronger increase in new home sales despite ongoing population growth and acute shortages of housing.
“The recent increase in new home sales in most markets is beginning to trickle through to approvals data, with 109,610 houses approved nationally in the most recent twelve months.
“With new home sales and detached house approvals picking up in 2024, the improvement in the volume of new homes commencing construction is likely to be sustained, progressing further into 2025,” concluded Mr Tapang.
“New home sales in Queensland rose by 40.6 per cent in the 2024 calendar year, the strongest increase across all markets. This was followed by South Australia (+25.8 per cent) and New South Wales (+11.8 per cent). Sales in Victoria were virtually unchanged (-0.6 per cent), while Western Australia recorded a 7.1 per cent decline in sales in 2024.
Download our HIA New Home Sales Report
Private New House Sales - Australia (seasonally adjusted)
For more information please contact:
What’s new for workplaces in 2026?
Workplace laws are set for more changes in 2026.
Small business confidence falters in residential building sector
Australia’s residential building industry has entered the new year with confidence still on shaky ground for small businesses as rising costs and policy uncertainty continue to cloud the outlook.
Tasmania’s Building Approvals Dip in November – But Quarterly Growth Shows Signs of Recovery
Tasmania’s housing market slowed in November, with building approvals falling sharply compared to October. Approvals for new homes dropped almost 20 per cent, and even after seasonal adjustment, the decline was 5.8 per cent.
Home building to lift in 2026, but interest rates will determine how far and how fast
Australia’s home building industry is expected to strengthen through 2026, supported by gradually improving building approvals and a recovery in demand, but the pace of growth will ultimately depend on how quickly interest rates can fall further, according to the Housing Industry Association.