Ensure you never miss an issue of the
real estate business bulletin
New home sales rebound

New home sales rebound

by Reporter 0 comments

Staff Reporter

New home sales hit the right note for the new year, posting a fourth consecutive rise in January.

According to the latest Housing Industry Association (HIA) New Home Sales report, seasonally-adjusted new home sales increased by 4.2 per cent in January 2013, reflecting a 4.0 per cent increase in detached house sales and a 4.9 per cent lift in multi-unit sales.

“It is a promising update to see the momentum of late 2012 carrying into the new year,” HIA chief economist Harley Dale said.

“Over the three months to January this year, new home sales increased by 10 per cent, although sales volumes were still 6.4 per cent lower compared to the same period a year earlier.

“Sales of new detached houses have now increased over three consecutive months, a crucial improvement given the considerable weakness experienced through a majority of last year.

“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.”

In the month of January 2013, detached house sales increased by 9.1 per cent in Victoria, 10.6 per cent in South Australia, and 7.4 per cent in Western Australia. Sales fell by 1.3 per cent in New South Wales and were down by 6.0 per cent in Queensland.

le>.b-autolinks{text-decoration:underline}.b-autolinkshadowbox { display: inline; position: relative; cursor: pointer; color: #428bca;} .b-autolinkshadowbox:hover > span { display: block !important; } .b-autolinkshadowbox__links { white-space: nowrap; z-index: 999; display: none; left: 0; border: 1px solid #bfbfbf; border-radius: 5px; font-size: 12px; top: 12px;color: #000; padding: 10px; position: absolute; background-color: #FFF; box-shadow: 0px 0px 20px 1px #bfbfbf; } .b-autolinkshadowbox__links > a { display: block; padding: 3px 0; }
New home sales rebound
lawyersweekly logo
promoted content
Recommended by Spike Native Network
Listen to other installment of the Real Estate Business Podcast
reb top 100 agents 2017

The REB Top 100 Agents ranking is the foremost ranking of agents in Australia. It has set the bar for excellence in Australian real estate. To be ranked as an REB Top 100 Agent is the standard real estate professionals strive for. See the full 2018 ranking here!

featured podcast

featured podcast
An industry where the resilient succeeds

Tim Heavyside believes that a strong support team and good foundations are paramount to success in the real estate industry, and with regu...

View all podcasts

Would you consider working for Purplebricks or a similar 'DIY' model?

Yes (7.2%)
No (80.9%)
Perhaps - make me an offer (12%)

Total votes: 209
The voting for this poll has ended on: July 13, 2018
Do you have an industry update?