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The HIA New Homes Sales Report shows a modest decline in total new home sales nation-wide in March 2017.
New home sales across the country eased by around 1.1 per cent in March.
Detached house sales which were down by 1.4 per cent, while sales of multi-units eased by only 0.1 per cent.
With residential building activity peaking in 2016, industry spectators will be keen to assess where activity may be headed in the next phase of the cycle, HIA economist Geordan Murray said.
“In particular, there has been a high degree of speculation about the trajectory of activity in the multi-unit market given the unprecedentedly large role it has played throughout the upside of the cycle.
“The new home sales survey shows that sales have been sustained at a relatively high level though to March this year.
“Similarly, detached house sales are indicating only a slight downward trend. This is consistent with other data on building approvals and dwelling commencements.”
NSW was the only state to record an increase in detached house sales in March, posting a 10.4 per cent rebound after a soft result in February.
Detached house sales fell by 4.6 per cent in Victoria, 5.4 per cent in Queensland, and fell by 1.7 per cent and 1.2 per cent in South Australia and Western Australia respectively.
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