Home Insights PropTrack New Homes Report – May 2022

PropTrack New Homes Report – May 2022

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Inquiries for a new home on realestate.com.au It decreased by 16.7% in April and decreased by 30.7% in the same period last year.

The total number of inquiries on all purchase lists decreased by a similar percentage (15.5%), but the record volume of new development inquiries in 2021 reduced it by half year-on-year.

Inquiries by state

Inquiries decreased from the previous month in all states and territories except Tasmania. However, Tasmania, based on a very small number, increased by 15%.

Year-over-year, South Australia and Northern Territory inquiries increased 64% and 14%, respectively.

Inquiries have increased in states with low inventories and high demand.

Victoria, Queensland, and New South Wales, where the most projects are available, do not see the same level of demand.

Inquiries about new homes at realestate.com.au decreased in April.Photo: Getty


Inquiries by project type

Inquiries about apartments decreased by 5% month-on-month and 10% year-on-year.

Land inquiries also decreased by 3% and 19%, respectively.

The significant year-on-year decline in land ownership is due to the high inquiries experienced behind the Home Builder grant in 2021.

Inquiries about retirement projects increased 0.5% month-on-month and 13% year-on-year.

New development volume

According to recent data from the Australian Bureau of Statistics, building approvals have been on a downward trend since March 2021 and fell 18.5% month-on-month in March 2022.

New development list realestate.com.au It has not decreased at this level, only 2% in April. However, due to the delay between building approval and pre-sale of new buildings, the new development list may decline at a similar rate in the coming months.

Who is inquiring about the new home?

Approximately 35% of questioners simply claim to be “buyers,” but every month, investors or first-home buyers increase and other buyers decrease.

For example, over the past two months, initial homebuyer inquiries have increased (as a percentage of all new home inquiries), while investor inquiries have decreased.

In the previous month, it was the opposite.

Top new home project in April

The most frequently asked about condominium development in April Panorama Located in Bowen Hills, Queensland.

Panorama of Bowen Hills, Queensland, 30m lap pool, Zen garden, daybed.  We received the most inquiries about apartment development in April. Photo: realestate.com.au

Panorama of 30m lap pool, Zen garden and daybed in Bowen Hills. We received the most inquiries about apartment development in April. Photo: realestate.com.au


This development is a prime example of the style of apartments that has gained popularity over the last few years.

Luxurious amenities such as a movie screen, rooftop bar, dining facilities, and lap pool with sauna are essential items.

The most inquired about residential and land real estate in April was Heath Wood Rise In Heathwood, Queensland.

Only 30 minutes from Brisbane CBD and the airport, it is a relatively small development with only 25 plots.

The artist's impression of Heathwood Rise in Heathwood, Queensland.  Most inquired about real estate on land in April. Photo: realestate.com.au

The artist’s impression of Heathwood Rise in Heathwood, Queensland. Most inquired about real estate on land in April. Photo: realestate.com.au


In the next few months

Towards the election, both major parties have promised to help homebuyers step into the real estate ladder, thereby realestate.com.au..

There are no election promises to increase building stock across the country, and this is where the main problem with rising housing costs exists.

Without additional properties to accommodate the growing homebuyers, the supply-demand gap will widen further.

The results of this weekend’s vote will have a significant impact on the real estate market over the next three years. And it is not yet known which party will win and the proposed policy will be implemented.

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