The volume of new homes sold in February was relatively unchanged from the last month’s increase in sales, new data shows.
The latest HIA New Home Sales report has revealed that in the three months to February 2025, new home sales increased in New South Wales by 55.4% compared to the same period in the previous year.
This was followed by South Australia (up 18.9%) and Queensland (14.6%). Victoria recorded a 4.3% decrease over the same period, while Western Australia saw a 20.3% decline, off a high base last year.
HIA Economist Maurice Tapang believes the pickup in sales at the start of 2025 has been consistent with more stable economic conditions.
“Australia’s economy continues to grow, while unemployment remains very low, inflation is easing, and wages are growing in real terms”, Tapang observed, adding that while Australia’s population growth is moderating, it is doing so off very high levels.
“This strong population growth will only ensure underlying demand for housing remains solid.
“It will be state and local factors that will determine the pick-up in home building activity across the different regions.
“Those that are able to help lower the cost of and increase the supply of shovel-ready land will see a stronger increase in activity”, Tapang concluded.
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