This article is from the Australian Property Journal archive
NEW home sales among Australia’s largest volume builders lifted in January for a second consecutive month, according to the HIA.
Total seasonally adjusted new home sales increased by 3.1%, with detached house sales up by 5.8% whilst the sale of ‘multi-units’ decreased by 5.8%.
In the month of January, detached house sales increased in each of the five mainland states: Queensland (+7.9%); Western Australia (+7.3%); Victoria (+5.5%); New South Wales (+4.2%); and South Australia (+1.3%).
HIA chief economist Harley Dale said contrary to the ABS building approvals figures, the HIA report showed further strength.
“The overall trend evident across both leading indicators is very similar – signalling that once the current (record) pipeline is exhausted, new home construction activity will soften.
“This year will be another healthy one for detached house and ‘multi-unit’ construction, but we won’t surpass the heights of 2015,” Dale said.
Australian Property Journal
