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Building To Stay Strong Til End Of 2023

Building To Stay Strong Til End Of 2023The latest data shows that new home sales fell in April, although it was still a stronger first four months of 2022 than it was during the same period in 2021.

Housing Industry Association (HIA) economist Tom Devitt says new detached homes fell by 1.2% in April.

The latest HIA New Home Sales report, which surveys the largest volume home builders in the five largest states, found the market remains strong despite the fall.

Devitt says the solid sales figures mean the volume of home building and demand for skilled workers will remain strong at least until the end of 2023, if not longer.

Western Australia and Victoria are the only states to record an increase in new home sales in April.

Sales were up 8.8% in Western Australia and 4% in Victoria.

Sales dropped by 2% in South Australia, 9% in Queensland and 9.4% in New South Wales.

But when comparing the past three months with the same quarter last year new home sales in New South Wales are up by 11.1%.

Other states have declines for the same period with Victoria down by 4.2% Queensland down by 14.3%, Western Australia down by 15.9% and South Australia down 42.8%.


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