Powered by MOMENTUM MEDIA
realestatebusiness logo
Subscribe to our newsletter SIGN UP

New home demand surges

28 July 2009 Reporter

There is increased demand for new homes in Australia, the Housing Industry Association (HIA) has said.

According to the association’s chief economist Harley Dale, low variable mortgage rates, the first home owner boost and attractive deals from builders have culminated to generate increased demand for new homes.

“There has also been an increase in the cost of land across Australia which shows the property market is healthy,” Mr Dale said.

The weighted cost of land increased 7.4 per cent from $160,000 in December to $172,490 in March.

Recent comments by the Reserve Bank of Australia further fuelled speculation that demand for new homes is on the rise.

In the minutes of the monthly meeting, the RBA observed that house prices have been rising, loan approvals are "strong" and there has been "solid growth" in housing credit.

New home demand surges
lawyersweekly logo
FROM THE WEB
Recommended by Spike Native Network
Listen to other installment of the Real Estate Business Podcast

Where is the biggest threat to agents in 2019?

3rd party lead generation companies
DIY models discounting sales commission
Prop-tech firms cutting out the agent value proposition
A yet unidentified proper disruptor – like Uber or Airbnb
None of the above. There is no threat.
Do you have an industry update?
REAL ESTATE BUSINESS NEWSLETTER
Ensure you never miss an issue of the Real Estate Business Bulletin. Enter your email to receive the latest real estate advice and tools to help you sell.