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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)
Low volume of home building but labour shortages linger
“Australia has just seen its two weakest years of new home commencements in over a decade, meaning these ongoing shortages of skilled trades are not being caused by home building activity,” stated HIA Chief Economist, Tim Reardon.
Building approvals strengthen in March quarter
“There were 48,620 new homes approved for construction in the first quarter of 2025, up by 20.8 per cent on a year earlier,” stated HIA Senior Economist Tom Devitt.
New Government must put housing as first order of business
“The Housing Industry Association (HIA) calls on the newly elected Federal Government to make housing a first-order priority from day one, any delay or political grandstanding will only deepen the nation’s housing crisis,” HIA Managing Director Jocelyn Martin said today.
Funding infrastructure at Mount Peter vital for housing boost (NQ)
“A strong pipeline of new shovel-ready residential land at Mount Peter is fundamental to putting downward pressure on housing prices across the entire region,” said HIA Executive Director North Queensland, Peter Fry.