Powered by MOMENTUM MEDIA
realestatebusiness logo

Breaking news and updates daily. Subscribe to our Newsletter!

Home of the REB Top 100 Agents
Breaking news and updates daily. Subscribe to our newsletter

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

Latest


Must Read


PM Tech Growth Sales Marketing Industry

Our Events


New Broker Academy 2022

The Adviser’s New Broker Academy aims to equip prospective brokers with the knowledge, skills and mindset to succeed...

LEARN MORE
VIEW ALL
Do you have an industry update?

top suburbs

12 month growth
Box Hill
127.02%
Mollymook
82.85%
Brightwaters
79.93%
Cleve
78.13%
Bawley Point
76.2%
Murrays Beach
75.57%
Terranora
70%
Crescent Head
69.38%
Park Ridge South
68.32%
Mollymook Beach
67.09%
SEE AREA REPORTS ON SMART PROPERTY INVESTMENT WEBSITE
Subscribe to 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.

Fewer homes being sold, but at a higher price

By Staff Reporter
01 December 2009 | 1 minute read

The number of new home sales in Australia has fallen by 6 per cent for the second consecutive month following the first time buyer surge in August, according to the Housing Industry Association (HIA).

Detached houses seemed least popular with sales having progressively fallen since September. And while the number of apartments sold has consecutively risen over the past few months, sales remain at an all time low.

HIA’s chief economist Dr Harley Dale said that home sales were further hampered by higher interest rates and the softening of first home buyer activity.

“A decent and sustainable new home building recovery needs strong momentum from private sector trade-up buyers and investors and we seem to be falling short on that score as we near the end of 2009,” Dr Dale said.

Despite the drop in sales, house prices have risen steadily across Australia, according to ABS data.

On average, prices have increased by 4.2 per cent since last quarter - a significant 6.2 per cent increase since September last year.

Sydney and Melbourne were the main contributors to the weighted average price increases, with Perth closely following.

Fewer homes being sold, but at a higher price
default
lawyersweekly logo

Tags:

Listen to other installment of the Real Estate Business Podcast
Do you have an industry update?

top suburbs

12 month growth
Box Hill
127.02%
Mollymook
82.85%
Brightwaters
79.93%
Cleve
78.13%
Bawley Point
76.2%
Murrays Beach
75.57%
Terranora
70%
Crescent Head
69.38%
Park Ridge South
68.32%
Mollymook Beach
67.09%
SEE AREA REPORTS ON SMART PROPERTY INVESTMENT WEBSITE
Subscribe to 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.