New South Wales has widened its lead over Victoria in the latest HIA Housing Scorecard report released today. The HIA Housing Scorecard ranks each of the eight states and territories based on the performance of their housing markets.
“The large states dominate the top rankings in the latest HIA Housing Scorecard, with NSW extending its lead in first place thanks to a remarkable performance on the detached house side,” explained HIA Senior Economist, Shane Garrett.
“In second place on the HIA Housing Scorecard, Victoria was particularly strong for home renovations activity but also did well on the detached housing side,” continued Shane Garrett.
“In this edition of the HIA Housing Scorecard, Queensland grabbed the bronze medal with a solid showing on the multi-unit side,” Shane Garrett remarked.
“Outside of the Top Three, South Australia and the ACT occupied the mid-table positions. Western Australia, the Northern Territory and Tasmania are all neck-and-neck with declining market momentum on the HIA Housing Scorecard,” added Shane Garrett.
“Probably the starkest result from today’s HIA Housing Scorecard concerns the volume of First Home Buyer loans, which have fallen well below their long-term average in each state and territory. The obstacles to housing affordability for first home buyers merit a national-led response,” concluded Shane Garrett.
