{{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 locationHome building gaining momentum
Home building gaining momentum
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 delivered the third rate cut of this easing cycle, bringing their benchmark cash rate down from 3.85 per cent to 3.6 per cent,” stated HIA Senior Economist Tom Devitt.
The RBA held its August meeting today, delivering its decision on the cash rate and handing down its new Statement of Monetary Policy and updated forecasts.
“The RBA cited recent data justifying today’s rate cut, including their preferred trimmed mean measure of inflation having been within their 2-3 per cent target for over a year, and continuing to decline,” added Mr Devitt.
“Another reduction in borrowing costs from today will provide a further boost to home building activity across the country that will ensure ongoing jobs growth and economic activity.
“One in ten employed Australians are engaged in the sector. It provides an important contribution to economic activity.
“Now with three interest rate cuts in the back pocket, established home prices are rising, making new home building increasingly viable for new households.
“The RBA’s current cash rate settings remain in restrictive territory and will constrain household and private sector business spending across the economy, including in the home building industry.
“Household spending has been particularly constrained, with Australia having been in an almost uninterrupted per capita recession since mid-2022.
“Despite this, and ongoing increases in taxes and restrictions on new home building, the volume of homes commencing construction is set to continue to increase.
“Elevated population growth and government job creation have created demand for new homes and will continue to support ongoing growth in the number of new home starts.
“These same factors are also likely to keep inflationary pressures higher than last decade ensuring that this cutting cycle is relatively short-lived.
“Policymakers cannot rely on the RBA to achieve 1.2 million homes over the five years.
“More significant structural reforms to regulation and taxation of homes are required to address Australia’s housing shortage,” concluded Mr Devitt.
For more information please contact:
BuildSkills Australia releases Workforce Capacity Study
The Housing Industry Association (HIA) welcomes the release of BuildSkills Australia’s Housing Workforce Capacity Study, which highlights the need to strengthen Australia’s residential construction workforce to meet the National Housing Accord target of 1.2 million new homes by 2029.
Australia's 83,300 tradies shortfall on International Tradespeople Day
“Trade shortages loom as a major threat to reaching the Housing Accord target of building 1.2million homes by 2029,” said HIA Executive Director - Future Workforce, Mike Hermon.
Victoria’s Housing Statement progress: we need more builders
“The Victorian government’s Housing Statement is approaching its two-year anniversary. Since that time the Victorian government has implemented some positive reforms, but it is becoming clear that we will not have enough people to build these homes as quickly as we need,” stated HIA Executive Director Victoria, Keith Ryan.
Productivity Commission Five Pillars
With the focus of the national economic debate on improving productivity following the recent roundtable, HIA used our submission to the Productivity Commission’s Five Pillars reforms to call on the Federal Government to act swiftly to lift productivity and unlock new housing supply.