Demand for new homes remains strong, despite a slight fall in April, builders say.
The latest HIA New Home Sales report shows that while sales of new detached homes fell by 1.2 per cent in the month of April, they continue to be stronger than at the same period in 2021.
HIA Economist Thomas Devitt attributes the strong demand to the depth of the shortage of housing and the significant change in household formation rates, due to the pandemic.
“These strong sales are ensuring that the volume of home building and demand for skilled workers will remain strong at least until the end of 2023”, Devitt said.
Western Australia and Victoria were the only states that saw an increase in new home sales in the month of April, up by 8.8 per cent and 4.0 per cent respectively. South Australia saw a decline of 2.0 per cent, followed by Queensland (down 9.0 per cent) and New South Wales (9.4 per cent).
For the last three months, compared to the same quarter last year, sales in New South Wales were up by 11.1 per cent. This was followed by declines in Victoria (down 4.2 per cent), Queensland (14.3 per cent), Western Australia (15.9 per cent) and South Australia (42.8 per cent).