Despite post-Covid challenges like rising construction costs and delays, new data shows that buyers are increasingly turning to new-build homes.

According to REA Group’s 2024 Property Seeker Report, 48% of homebuyers in South Australia have bought or are considering buying a new home in the past year. In New South Wales and Victoria, the figure is 42%, while 40% of buyers in Western Australia and 36% in Queensland are also leaning toward new builds.

First home buyers are especially drawn to new properties, with more than half (51%) either buying or considering a new home. Government incentives aimed at new builds are providing these buyers with additional financial benefits.

The report also highlights that falling home prices, particularly in Melbourne, are making the market more appealing to first-time buyers.

In South Australia, 63% of first-home buyers opted for a new build, followed by 52% in Western Australia, 51% in New South Wales and Victoria, and 48% in Queensland.

The top suburb for first-home buyers searching for houses is Tarneit, Victoria.