{{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 locationRBA misses opportunity
RBA misses opportunity
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 RBA held its benchmark cash rate at 3.85 per cent today, with attention now shifting to its August meeting, when it will update its official forecasts for the economy.
“This decision will leave new home building activity more constrained than necessary, for longer, but the previous two cuts to the cash rate have seen an improvement in market confidence that is likely to continue,” added Mr Devitt.
“Recent inflation data shows that the RBA’s preferred trimmed mean measure has been within their 2-3 per cent target band for over a year now and continues to decline.
“Household spending has also been constrained, with Australia having been in an almost uninterrupted per capita recession since mid-2022.
“This recent data reinforced the market expectation that the RBA would deliver a cut at their July meeting – an expectation that was disappointed today.
“By most of the RBA’s own estimates, the cash rate remains in restrictive territory, meaning it is still constraining household and business spending across the economy, including in the home building industry.
“More rate cuts cannot deliver the volume of home building required to match the growth in demand or achieve the 1.2 million new homes goal.
“As it stands, Australia is set to build less than 1 million new homes over the government’s target five-year period, 20 per cent short of national housing targets and a long way from addressing the national housing crisis.
“Broader policy reforms are required to achieve government home building targets and address the housing affordability crisis across Australia.
“To unleash Australia’s home building potential, policymakers need to address the acute shortage of skilled trades across the country and remove the tax and regulatory barriers that make housing unaffordable for more and more Australians,” concluded Mr Devitt.
For more information please contact:
HIA Submission to the Inquiry into student pathways to in-demand industries
The Housing Industry Association (HIA) is Australia’s only national industry association representing the interests of the residential building industry, including new home builders, renovators, trade contractors, land developers, related building professionals, and suppliers and manufacturers of building products.
Spotlight on Design: Government expands free sustainable house plans with Design For Place update
The Australian Government is shining a light on sustainable, energy efficient homes through its recent updates to Design For Place.
New home sales remain at near three-year high
“The cycle of ongoing growth in new home sales was broken in July, with a 6.4 per cent fall compared to June,” stated HIA Senior Economist, Maurice Tapang.
Roundtable must declare a battle on red, white and green tape
“If the Economic Reform Roundtable is serious about developing meaningful and lasting change to boost productivity and the economy, then the number one priority must be on cutting the excessive regulation that is crippling businesses,” said HIA Managing Director, Jocelyn Martin.