Japan is rapidly gaining share as a powerhouse in Australia’s housing industry, with just under 30 per cent of all homes built by the country’s 20 top builders now wholly or partly owned by Japanese conglomerates. That is according to HIA’s 2024/25 Housing 100 report, published yesterday, which reveals that Sumitomo Forestry—the same company that sent a wooden satellite into space last year— is responsible for 7,311 (or 18%) of those starts.
According to the HIA data, the 100 builders accounted for 36 per cent of all new dwellings nationwide (a figure that was down from 38 per cent last year), with detached homes rising 4.5 per cent to 46,944 starts, semi-detached dwellings climbing 24 per cent to 6,443, and multi-unit projects jumping 40 per cent to 11,020. “The achievements of the Housing 100 are cause for optimism,” says Tim Reardon, chief economist at the Housing Industry Association. “This year saw more homes built, more builders expanding their activity, and growth across detached, semi-detached and multi-unit segments.”
Metricon topped the list for the tenth consecutive year with 4,015 starts, with the Victorian-based builder—now subject to a full takeover by Sumitomo Forestry— priding itself “on building all its homes with concrete slabs and timber frames.” Meanwhile, South Australia’s Henley Properties ranked eighth with 1,984 starts, and Redink Homes, also fully controlled by Sumitomo, came in 15th with 1,312. Other Japanese power players include Asahi Kasei Homes’ NEX Building Group, which ranks 4th with 2,898 starts, and also controls a major stake in the Simmonds Group, which ranks 12th with 1,526 starts.
By state, Victoria led with 20,192 starts (31 per cent), followed by New South Wales on 14,295 (22 per cent) and Queensland on 13,951 (22 per cent). Western Australian builders delivered 9,903 starts—46 per cent of that state’s total, the highest market share nationally—while South Australia recorded 5,349 starts (40 per cent). “With interest rates easing, population growth strong and construction costs stabilising, the outlook for home building is positive,” Reardon said, before adding that “detached starts are forecast to lift steadily to a 2027 peak, while multi-unit commencements are set for an even stronger recovery.”
- To learn about Sumitomo Forestry’s plans to use “2 × 4” mass-timber units to deliver social and affordable housing at scale, click here for Wood Central’s exclusive feature.
