New home sale figures remain positive over January

According to recently released figures from the Housing Industry of Australia (HIA), new home sales posted a fourth consecutive monthly rise in January.

 

These figures reflected a 4.9 per cent increase in multi-unit sales, and a four per cent increase in the detached housing segment.

 

“It is promising to see the momentum of late 2012 carrying on into the new year,” said HIA Chief Economist, Harley Dale.

 

“Over the three months to January, new home sales increased by ten per cent, although sales volumes were still 6.5 percent lower compared to figures a year earlier.

 

“Even now, the volume of detached house sales is not much more than half the long-term average. Consequently, there is a long way to go to see evidence that new home building will reach the levels the economy requires as the contribution from resources-related investment wanes.”

 

Victoria (+9.1 per cent), South Australia (+10.6 per cent) and Western Australia (+7.4 per cent) all experienced increases in new home sales over January, while New South Wales and Queensland saw declines of 1.3 per cent and six per cent, respectively.

 

For more information about the residential property market in your areas of interest, please feel free to stop by your local CENTURY 21 Real Estate office for expert and clear advice.

Posted by Charles Tarbey on 08/03/2013 at 12:00 AM | Categories:

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