The HIA Housing 100 Report was launched this morning, ranking Australia’s largest 100 residential builders based on the number of homes commenced each year.
The announcement is part of a series of highly anticipated construction outlook breakfasts that occurred across the country this week, marking the launch of this year’s HIA-Colorbond Steel Housing 100 report.
The early morning events are some of the most highly anticipated in the construction industry calendar and provide the most up-to-date analysis of the home building industry nationwide, with detailed breakdowns from industry experts and leaders.
This year’s HIA-Colorbond Housing 100 list was revealed this morning at a sold-out Melbourne event and the 27th Melbourne Construction Outlook Breakfast.
Award-winning new home builder Metricon Homes again picked up the top spot for the ninth consecutive year, retaining its title as Australia’s largest residential builder.
Metricon Homes reported 3,894 new home sales across four states during 2023/24 despite a market slowdown in demand due to the rise in interest rates.
In second place, with just 13 fewer home sales, was ABN Group, with stronger market conditions in Western Australia and growth in Victoria, seeing ABN rise up the ranks with 3,881 homes.
Meriton Apartments rounded out the top three with 3,291 starts shared across New South Wales and Queensland. This was a jump from fourth place last year.
This year’s results were the tightest in the report’s 35-year history, with HIA chief economist Tim Reardon anticipating more new homes would be built towards the latter end of this financial year.
“Market confidence is returning to the new home market as interest rates remained on hold for the tenth consecutive month. Low levels of unemployment and strong population growth have driven ongoing demand for new homes despite the increase in the cost of borrowing and a decline in household consumption,” he said.
“The recovery in market confidence isn’t evenly distributed across each jurisdiction, and this has had an impact on the results of this year’s Housing 100.”
“Leading indicators suggest that the volume of home building activity is set to increase in the second half of 2024 and into 2025.”
“Increasingly, the outlook for home building is dominated by local factors such as the price of land and state government taxes. For this reason, a recovery in building activity in New South Wales appears set to lag all other jurisdictions.”
There is still an opportunity to express interest in attending the Sydney (Thursday 7:30 am and Brisbane (Friday 7:30 am) Construction Outlook events, which the HIA says will help attendees stay on top of market conditions impacting the housing sector.
“Construction Outlook provides the most up-to-date analysis conditions in the residential and non-residential industry, in addition to insightful consideration of the broader economic environment,” they state.
Registration includes an electronic copy of the 2023/24 HIA-Colorbond steel Housing 100 report.
Available to purchase separately, the report highlights the activities of Australia’s largest 100 construction companies, summarising where their markets are found, what they build, company profiles, and contact details.
