NSW tops latest HIA Housing Scorecard, first home buyer loans fall
The detached housing market has pushed New South Wales to a greater lead over Victoria in the HIA Housing Scorecard.
The scorecard ranks each states and territories on the performance of their respective housing market.
Shane Garrett, HIA senior economist, said 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.
“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.
“In this edition of the HIA Housing Scorecard, Queensland grabbed the bronze medal with a solid showing on the multi-unit side.
“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.
“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."
