Tom Devitt
Tom Devitt is a senior economist at the Housing Industry Association in Australia, where he focuses on the residential building sector. He has been vocal about the challenges currently facing the housing market, including rising land and construction costs, a shortage of skilled labor, and the impact of interest rates on housing demand. His recent forecasts indicate that new home commencements are likely to fall significantly short of the federal government's ambitious housing target, highlighting the ongoing issues in meeting the growing demand for housing in Australia.
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Recent news mentions
Tom Devitt noted that Australia had approved only 187,330 new homes in 2024-25, indicating a distant goal for construction.
Ku-ring-gai, Burwood and Strathfield among Sydney suburbs failing to meet targets
Australia· 2025-07-31
HIA senior economist Tom Devitt said construction was becoming more expensive, due to the cost of trades and high land prices.
Cost of development sites for new homes soars 75 per cent in five yearsAustralia· 2025-06-03
Tom Devitt highlighted the labor cost increases as a significant factor in the recent rise in building costs.
How the cost of building a new house just hit a record highAustralia· 2025-05-13
Tom Devitt, senior economist at residential building industry group the Housing Industry Association, is forecasting roughly 180,000 new home commencements this year due to rising demand for detached houses.
Property investors choosing house and land packages as housing starts set to liftAustralia· 2025-02-23