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). 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 August of 2022.

New Home Sales in Australia is expected to be 5800.00 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 5500.00 Units in 2023, according to our econometric models.

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Australia New Home Sales



Calendar GMT Actual Previous Consensus TEForecast
2022-07-21 05:00 AM Jun 1.9% -5.5% -2.3%
2022-08-12 12:30 AM Jul -13.1% 1.9% 0.8%
2022-09-16 04:00 AM Aug -13.1%


Related Last Previous Unit Reference
New Home Sales 4909.00 5649.00 Units Jul 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
4909.00 5649.00 20768.00 3647.00 1999 - 2022 Units Monthly
SA

News Stream
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
Australia New Home Sales Fall 1.2% MoM in April
Australia's new home sales dropped by 1.2 percent month-on-month in April 2022, reversing from a 3.9 percent growth in the previous month, data from the Housing Industry Association (HIA) showed. It was the third decline in the past four months, reflecting the remaining impact of adverse weather and flood in some parts of the country and worries that mortgage affordability would reduce following the recent increase in cash rate as well as signs that the Reserve Bank of Australia will continue its hawkish stance to tame rising inflation. New home sales fell the most in South Australia (-2.0 percent), followed by Queensland (-9.0 percent) and New South Wales (-9.4 percent). By contrast, sales increased in both Western Australia (8.8 percent) and Victoria (4.0 percent).
2022-05-13