HIA

Sales of new homes continued to decline in July indicating 10-year lows for home building, the latest HIA New Home Sales Report has found.

New home sales slumped in November, as rising rates place a stranglehold on new construction, latest HIA data has revealed.

Treasury has reacted to the RBA decision assessing a 2023 economic slowdown, but for ‘how long?’ and ‘by how much?’, economists have posed.

Housing affordability is on the decline as interest rates continue to climb, the HIA has found.

The industry association has called for the construction commencement of more apartments for the government to achieve its housing target.

Lending to build or purchase a new home remains at two-decade lows, signalling a more persistent downturn, HIA’s chief economist has said.

There were record-high numbers of dwellings under construction in the June quarter 2022, the ABS has revealed.

The association has urged the government to develop an “RBA-style” board to oversee the regulator to ensure target mortgage arrears of between 2 and 3 per cent.

Ditching stamp duty alongside a new visa for skilled migrants is among the calls the Housing Industry Association has made ahead of the federal budget.

The government’s National Housing Accord is a positive step in addressing Australia’s housing crisis. However, the lack of affordable options has the HIA calling for change.

The federal government has announced a budget commitment of over $90 million to boost the number of skilled workers in the housing sector.

The RBA’s hiking cycle continues to dampen building approvals as the full effects are felt throughout the economy.

The association’s report has found that new home sales spiked in April driven by home buyers circumventing government regulations.

New home sales rose during February but remain near low levels, the association has found.

The association has warned of further housing pressures following the latest population growth data.

The median price of a residential block of land has hit new records due to shortages on land, the HIA has found.

The impact of the central bank’s monetary tightening policy has yet to impact home building employment, however, further hikes risk longer downturn, HIA’s chief economist has said.

March saw yet another drop in new home sales in March when compared to the previous month as higher rates impede sales, HIA economist says.

The association’s latest report into new home sales has revealed a fall in October following a surge the previous month.

National home sales fell during May following the changes to the National Construction Code.