{{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 locationDisappointing fall in sales of new homes in Victoria
Disappointing fall in sales of new homes in Victoria
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.
“Victoria was the only one of the five largest states to have seen a fall in new home sales in the month, which left the three months to January 2025 down by 6.6 per cent compared to the previous quarterly period,” added Mr Ryan.
“When compared to the previous year, new home sales in Victoria have remained virtually unchanged, falling by 0.5 per cent.
“This makes Victoria the only one of the five largest states to have not seen an improvement in sales from this cycle’s trough. Australia’s largest home building market should be doing much better than this with a growing population and high employment rates.
“This flat result in new home sales is also evident in other leading indicators of home building activity, with house approvals in the 2024 calendar year up by just 1.5 per cent compared to 2023.
“The flat sales and approvals results came just before the Reserve Bank of Australia cut interest rates in February. This is expected to help boost activity in the new housing market.
“HIA forecasts detached home building starts in Victoria to increase modestly in 2024/25, up by 3.2 per cent from very weak levels in the previous year.
“Interest rate cuts should help increase demand for new homes. However, far more important will be the policy decisions that either increase or decrease the costs of land and construction in Victoria. It is becoming clearer that Victoria’s excessive tax burden is a major cause of the poor performance of the home building industry. If Victoria continues to lag behind other states in coming months, it will be harder to blame interest rates for reduced consumer demand.
“If the Victorian government wants to achieve its housing targets and address the housing crisis, policy reforms are needed to reduce the costs of land and construction,” concluded Mr Ryan.
For more information please contact:
Rate cuts will stimulate home building
“Today’s decision to cut the cash rate by 0.25 per cent will act as a catalyst for more on-the-ground home building activity,” added Mr Devitt.
Kick start your building project at HIA Newcastle HOMESHOW
With over 100 exhibitors’ onsite this Saturday’s HIA Newcastle HOMESHOW, hosted by HIA Home Inspirations, is the perfect event to kick start your next building project!
Missing Middle reforms hit the target for a growing city
The Housing Industry Association (HIA) has welcomed reforms announced today by the ACT Government to enable more medium density housing in the Capital.
Wagga Wagga builder wins big at Australian Housing Awards
A Riverina business has earned national recognition at the 2025 HIA–CSR Australian Housing Awards, with winners announced on 17 May in Melbourne before a packed audience of industry leaders and home-building consumers.