HIA Housing Industry Association : New Home Sales Continues its Decline - WA (203KB)

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21 January 2016

WA New Home Sales Continues its Decline

The HIA New Home Sales Report, a survey of Australia's largest volume builders, recorded another decline in sales for WA during November, said the Housing Industry Association (HIA), the voice of Australia's residential building industry.

"The downward slide in Western Australia's detached house sales continued for a sixth consecutive month in November 2015, with the number of sales being the sharpest decline yet of 9 per cent" commented HIA Executive Director, Western Australia, John Gelavis.

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The WA housing industry is declining from its highest historical peak of 32,198 commencements (recorded in March 2015), against a backdrop of slowing population growth, declining dwelling prices and also falling rental prices. More broadly, this backdrop indicates that WA's economy is in the process of adjusting (and normalising) to post-mining boom conditions."

"Policy makers must ensure that in this process housing construction does not fall to an unsustainably low level, an outcome which not only places pressure on housing supply and ultimately affordability, but will also be detrimental for the broader state economy," concluded Mr Gelavis.

For further information please contact:

John Gelavis, HIA Executive Director, WA on 0407 750 128