The Silvestro family-led company has almost doubled its volume of home starts in the past 12 months, in a shake-up of the state’s residential building industry.
Home Group and Blueprint Homes has climbed to top spot in the Housing Industry Association’s residential builders list, as the state’s homebuilding industry changes shape.
The industry group has this week released its annual Housing 100 list, revealing the Silvestro family-led company as recording the highest volume of dwelling starts in the state in 2023-24.
Home Group and Blueprint Homes, also known as Silvestro Building Group, commenced 2,401 homes in the recent financial year, up from 1,330 in the prior corresponding period.
This year marked the first time in recent history that BGC Australia was not included on the list, following a decision from that company to stop selling new homes last year.
It is also the first time in recent history that Home Group has ranked first.
Dale Alcock’s ABN Group, which topped the list last year, was ranked second in WA with 1,837 home starts.
This represented an increase on last year, when ABN Group recorded 1,717 starts.
Nationally, ABN Group ranked second on the list with 3,881 starts, with the balance of its total made up of its dwelling starts in Victoria.
ABN’s 2,044 starts in Victoria represented an increase on its 1,789 build commencements in that state last year.
Detached homes represented 87 per cent of ABN Group’s dwelling commencements, at 3,397.
ABN Group recorded just 13 fewer home starts than Metricon, with HIA chief economist Tim Reardon describing the results as the tightest in the report's 35-year history.
In terms of total home starts, the HIA reported a slight uptick, with 59,981 nationally, compared with 57,716 last financial year.
In WA, dwelling starts have increased by 5 per cent, to 15,544.
Mr Reardon added that market confidence was returning to the home market, as interest rates were put 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.”
Meriton Apartments was the top ranked apartment builder in the country with 3,277-unit sales.
Multiplex ranked second, with 2,244 homes built, ahead of the Hutchies with 1,745.
