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New home sales increased by 4.1% in January 2025, offsetting weaker sales in November and December 2024. Source: Timberbiz The HIA New Home Sales report is a monthly survey of the largest volume home builders in the five largest states and is a leading indicator of future detached home construction. “The monthly rise in new home sales occurred prior to the cash rate cut in February, which should further boost market confidence,” HIA Economist Maurice Tapang said. “Sales have been increasing off a very low base, consistent with stable economic conditions. Unemployment remains at very low levels, while there remains an acute shortage of housing stock. “The volume of new homes sold nationally in the three months to January 2025 were also 4.1% higher compared to the same period in the previous year,” he said. Mr Tapang said that poor sales volumes in New South Wales and Victoria had obscured an improvement in Western Australia, Queensland and South Australia. “This likely reflects the relative affordability of these markets, with the cost of a new detached house in Sydney and Melbourne prohibitively expensive for a larger number of households,” he said. “The volume of detached house approvals in Australia has also picked up, with the 2024 calendar year seeing 6.8% more houses approved for construction compared to 2023. “The rise in new home sales and new detached house approvals in is consistent with expectations of an increase in the volume of homes commencing construction this year,” Mr Tapang said. New home sales in the three months to January 2025 increased by 70.5% in New South Wales compared to the same time in the previous year, off a very low base. This was followed by South Australia (+22.3%) and Queensland (+12.3%). New home sales were virtually unchanged in Victoria (-0.5%) over the same period, while Western Australia recorded a 26.1% decline but only due to capacity constraints, particularly with labour.  

A landmark report reveals 2.48 million new dwellings are needed by 2034 to achieve affordability in Australia. More Houses Sooner is the first and only in-depth study to project the total dwellings required by 2034 in order to reach equilibrium and affordability levels. Source: Timberbiz The research indicates Australia needs to deliver approximately 2.48 million new dwellings to keep pace with population growth and address historic unmet demand. This equates to roughly 225,400 new dwellings per year. The report commissioned by Forest and Wood Products Australia (FWPA), a not-for-profit organisation provides scenarios for filling the housing supply gap by increasing timber use in multi-residentials and encouraging builders to adopt more prefabricated home solutions. Population growth is a key driver of housing demand, with projections showing nearly 31 million people and a decline in household size to fewer than 2.4 people per household. FWPA Head of Built Environment Programs, Kevin Peachy, says increasing timber usage in construction can help address the current imbalance of supply and demand. “There are opportunities and challenges for the industry,” he said. “Leveraging prefabrication systems and factory-based manufacturing offers reduced costs and construction times compared to conventional methods. “Systemic change is required, all of Australia will benefit from more efficient use of timber in the built environment, as this will help meet one of society’s most important and pressing needs of building more houses sooner,” he said. Lead Researcher Tim Woods says the report was compiled using integrating historical trends in housing affordability, disposable income, and population data. “Other reports in the market focus on projecting ABS building activity data, such as dwelling approval, commencement, and completion, without involving other indicators relevant to housing issues,” Mr Woods said. “By using an integrated analytical approach, this report provides practical pathways to fill the housing supply gap.” Historically, Australia produced an average of 192,100 dwellings per annum over the decade to 2024. The More Homes Sooner analysis indicates that Australia can deliver the additional 2.48 million dwellings the nation requires over the coming decade to meet the demand. FWPA is confident that the forestry and wood products industry is uniquely placed to contribute to a future where more Australians can realise the dream of owning a home. The Executive Summary can be found here. The full report can be accessed at https://fwpa.com.au/report/more-houses-sooner

Hundreds timber and pulp and paper workers are expected to vote in a demerger ballot which will see them establish their own union, the Timber, Furnishing and Textiles Union (TFTU). Source: Timberbiz The secret ballot run by the Australian Electoral Commission opened on Monday and will run to 14 April 2025. The new union will continue to represent workers in the Manufacturing Division’s coverage which includes floorcovering, cabinetry and joinery, glass and glazing, installation and shopfitting, timber and wood products, pulp and paper, furniture, bedding and mattress manufacturing and upholstery, textile, clothing, and footwear and building products and materials manufacturing. Currently Timber and Pulp & Paper Workers are members of the CFMEU Manufacturing Division, with that Division’s members now voting across the country to leave the CFMEU and get their own union. Ms Alison Rudman, Secretary of the NSW District of the CFMEU’s Manufacturing Division, said members in places like Tumut and Tumbarumba were tired of being associated with the CFMEU Construction Division that is always in the news for the wrong reasons. “They are looking forward to the TFTU having a laser focus on the issues that impact all our members like wood supply, recognition of their skills and protecting timber jobs in timber towns,” she said. “The right of timber workers to have a demerger vote was originally championed by Senator Jacqui Lambie and then taken up by the Albanese Government. The legislation that gave members this right to vote was supported by all MPs except the Greens,” Ms Rudman said. The Secretary of the Greater Green Triangle district of the CFMEU’s Manufacturing Division Brad Coates said he expected a high voter turnout and a big ‘YES’ vote to demerge from the CFMEU. “Timber and Pulp & Paper Workers in the South-East and all our members across the country do not want to be associated with a Union that is riddled with allegations of corruption and criminality,” said Mr Coates. “Members should know that they are able to exercise their democratic right to a vote because of the advocacy of Jacqui Lambie and legislation introduced by the Albanese Government and supported by all MPs except the Greens” Mr Coates said. The CFMEU Manufacturing Division would be the second Division to leave the CFMEU after the Mining and Energy Division left in 2023 to form the Mining and Energy Union. “This is an opportunity for our members to have their say on their future,” CFMEU Manufacturing Division National Secretary Mr Michael O’Connor said. “There is absolutely no benefit to our members of the Manufacturing Division remaining within the CFMEU “We are a union of honest, hardworking unionists who deserve better than being associated with the CFMEU Construction Division.”