HIA Update – April 2025
The Australian Bureau of Statistics recently released its monthly building approvals data for December 2025 for detached houses and multi-units covering all states and territories.
Decline in Total Home Approvals
The latest figures indicate that in the Hunter, total home approvals fell in 2024 compared to the 2023 calendar year.
There was a total of 4,808 building approvals across the Hunter in 2024. This is 8 per cent weaker than in 2023 and 18.5 per cent lower than in 2022.
Steady Detached House Approvals
Detached house approvals in the Hunter were steady, with an increase of 8 dwellings or 0 per cent change in the 2024 calendar year. Across the region, Lake Macquarie saw the strongest growth in detached house approvals, up by 35 per cent compared to 2023. This was followed by Maitland (+8 per cent), Scone (+7 per cent), and Singleton (+6 per cent).
Declines in Several Hunter LGAs
Declines were recorded in all other Hunter LGAs, with Port Stephens down 52 per cent, followed by Newcastle (-34 per cent), Muswellbrook (-21 per cent), and Cessnock (-20 per cent).
Drop in Multi-Unit Approvals
Multi-unit approvals decreased in the Hunter, falling 19 per cent in 2024 compared to the previous year. Declines were the greatest in Newcastle (-37 per cent), Cessnock (-33 per cent), and Lake Macquarie (-14 per cent). Pleasingly, growth occurred in Maitland (+29 per cent) and Port Stephens (+6 per cent).
Key Growth Areas in the Hunter
Much of the heavy lifting for the residential sector continues to occur in the local government areas of Lake Macquarie, Maitland, Newcastle, and Cessnock. These top four locations for approvals accounted for 85 per cent of total approvals.
Preference for Detached Homes
Detached homes remained the preference for home buyers, with the Hunter increasing 5 per cent to account for 63.25 per cent of total approvals.
Increase in Major Renovations and Alterations
The value of approved major renovations and alterations improved slightly in 2024. In the Hunter, approvals increased by 3 per cent to $314.8 million. This is 61 per cent higher than the pre-COVID year of 2018.
Challenges and Future Outlook
It is clear that 2024 was a challenging year given the higher cost of borrowing, land, materials, and labour.
Despite these sobering statistics, the prohibitively high cost of housing in some of Australia’s capital cities, especially Sydney, is forcing residents to areas with better economic and home ownership opportunities, such as the Hunter.
Pleasingly, the relative affordability advantages the region has over other locations will support continued demand for new homes, ensuring the important contribution residential construction provides to the local economy continues in the near future, concluded Mr. Jennion.
Find Out More
To find out more, visit HIA's Data & Forecasts Page
Craig Jennion
Housing Industry Association
Executive Director - Hunter