Australia's new home sales plunged 16.0 percent month-on-month in August of 2022, following a 1.13.1 percent drop in the prior month, data from the Housing Industry Association (HIA) showed. The latest figure marked the second straight month of fall in new home sales, with the rise in borrowing costs compounding the impact of higher cost of construction. “The full impact of recent and future rate increases will continue to flow through as an adverse impact on the sale of new homes in coming months," said HIA economist Tom Devitt. “The concern remains that the adverse impact of rising rates on the wider economy will be obscured by this volume of ongoing work and that the RBA goes too far, too soon.” Victoria drove the declines in sales, down by 15.2%, followed by Queensland (-1.8%). By contrast, the other states posting increases were South Australia (18.2%), New South Wales (14.2%), and Western Australia (7.5%). source: Housing Industry Association (HIA)

New Home Sales in Australia averaged 7884.23 Units from 1999 until 2022, reaching an all time high of 20768 Units in March of 2001 and a record low of 3647 Units in May of 2020. This page provides the latest reported value for - Australia New Home Sales - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Australia New Home Sales - data, historical chart, forecasts and calendar of releases - was last updated on September of 2022.

New Home Sales in Australia is expected to be 4000.00 Units by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Australia New Home Sales is projected to trend around 3500.00 Units in 2023 and 4000.00 Units in 2024, according to our econometric models.

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Australia New Home Sales



Calendar GMT Actual Previous Consensus TEForecast
2022-08-12 12:30 AM Jul -13.1% 1.9% 0.8%
2022-09-14 02:30 AM Aug -16.0% -13.1% -1.8%
2022-10-12 07:00 AM Sep -16.0%


Related Last Previous Unit Reference
New Home Sales 4124.00 4909.00 Units Aug 2022

Australia New Home Sales
In Australia, new home sales are based on the survey results obtained from State-wide estimates using weights based on financial year market shares of private dwelling commencements.
Actual Previous Highest Lowest Dates Unit Frequency
4124.00 4909.00 20768.00 3647.00 1999 - 2022 Units Monthly
SA

News Stream
Australia New Home Sales Tumble 16% MoM: HIA
Australia's new home sales plunged 16.0 percent month-on-month in August of 2022, following a 1.13.1 percent drop in the prior month, data from the Housing Industry Association (HIA) showed. The latest figure marked the second straight month of fall in new home sales, with the rise in borrowing costs compounding the impact of higher cost of construction. “The full impact of recent and future rate increases will continue to flow through as an adverse impact on the sale of new homes in coming months," said HIA economist Tom Devitt. “The concern remains that the adverse impact of rising rates on the wider economy will be obscured by this volume of ongoing work and that the RBA goes too far, too soon.” Victoria drove the declines in sales, down by 15.2%, followed by Queensland (-1.8%). By contrast, the other states posting increases were South Australia (18.2%), New South Wales (14.2%), and Western Australia (7.5%).
2022-09-14
Australia July New Home Sales Slump 13.1% MoM
Australia's new home sales plunged 13.1 percent month-on-month in July of 2022, swinging from a 1.9 percent gain in June, data from the Housing Industry Association (HIA) showed. The decline reflected the impact of the recent increases in the cash rate, with builders reporting fewer enquires and visits to display sites. “If this decline in sales is sustained, which is expected, then the 1.75 percent increase in the cash rate so far, will have brought this pandemic building boom to an end," said HIA Chief Economist Tim Reardon. He added that the full impact of the rate increases will continue to flow through as an adverse impact on the sale of new homes for at least the next few months. All of the major states saw a decline in new home sales, led by Queensland (-15.5 percent) and New South Wales (-15.3 percent), followed by Western Australia (-13.5 percent), Victoria (-11.1 percent), and South Australia (-9.7 percent).
2022-08-12
Australia New Home Sales Drop 5.5% MoM in May
Australia's new home sales fell by 5.5% month-on-month in May 2022, following a 1.2% drop in the previous month, data from the Housing Industry Association (HIA) showed. It was the second straight month of decline in new home sales, amid a federal election and worries rising interest rates begin to bite. " The impact of rising rates will be compounded by the going increases in the cost of construction and land, forcing up the cost of new house and land package. The lag from when a rate rise results in a decline in starts can be as short as six months, but in this cycle, it could be more than 12 months before the volume of starts fall due to the rise in rates,” Tom Davis, HIA Economist, said. The RBA raised the cash rate by 50 bps to 0.85% during its June meeting. New home sales dropped the most in Victoria (-12.7%), followed by New South Wales (-12.2%), and Western Australia (-0.8%). By contrast, sales increased in both Queensland (8.8%) and South Australia (12%).
2022-06-10