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{{propApi.successMessage}} {{region}} Change locationSales of new homes higher in January
Sales of new homes higher in January
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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.
“The monthly rise in new home sales occurred prior to the cash rate cut in February, which should further boost market confidence,” added Mr Tapang.
“Sales have been increasing off a very low base, consistent with stable economic conditions. Unemployment remains at very low levels, while there remains an acute shortage of housing stock.
“The volume of new homes sold nationally in the three months to January 2025 were also 4.1 per cent higher compared to the same period in the previous year.
“Poor sales volumes in New South Wales and Victoria have obscured an improvement in Western Australia, Queensland and South Australia.
“This likely reflects the relative affordability of these markets, with the cost of a new detached house in Sydney and Melbourne prohibitively expensive for a larger number of households.
“The volume of detached house approvals in Australia has also picked up, with the 2024 calendar year seeing 6.8 per cent more houses approved for construction compared to 2023.
“The rise in new home sales and new detached house approvals in is consistent with expectations of an increase in the volume of homes commencing construction this year,” concluded Mr Tapang.
“New home sales in the three months to January 2025 increased by 70.5 per cent in New South Wales compared to the same time in the previous year, off a very low base. This was followed by South Australia (+22.3 per cent) and Queensland (+12.3 per cent). New home sales were virtually unchanged in Victoria (-0.5 per cent) over the same period, while Western Australia recorded a 26.1 per cent decline but only due to capacity constraints, particularly with labour.
Private New House Sales - Australia (seasonally adjusted)
Funding to fast-track trades qualification can help get more homes built quicker
“Today’s announcement from the Labor Government of $78 million in funding to fast track the qualification of up 6,000 tradies is an important initiative which will help get more homes built quicker,” said HIA Managing Director, Jocelyn Martin.
Can the Feds lower housing costs faster than states can increase them?
“As Prime Minister, how would you stop state governments from continuing to increase the taxes on new home building and adding additional red tape?”, asked HIA’s Managing Director, Jocelyn Martin.
Changes to experience requirements for commercial builders
Interested in obtaining your commercial building licence? You may benefit from recent changes to the experience requirements.
Easter & ANZAC long weekends | Site security and shutdown tips
As we head into the Easter and ANZAC long weekends, the team at HIA wishes you a safe, relaxing, and well-deserved break with your loved ones.