Finding tomorrow’s hot property, TODAY

New Homes Sales Rising

New Homes Sales RisingThe number of new houses under construction is continuing to rise, with new figures revealing building levels are 40% higher than they were at the same time last year.

Australian Bureau of Statistics Building Activity figures for the March 2021 Quarter show a 20-year high 35,869 houses are under construction.

The value of construction work increased by 3% in the March Quarter to $30.4 billion, although this was 1.1 % less than at the same time last year.

A halt in international travel due to the pandemic also saw home-owners with more money to spend on alterations and additions during the March Quarter.

The number of people doing up their homes surged by 11.4% to a total spend of $2.9 billion.

While the residential construction market went from strength to strength, non-residential building dropped during the March quarter by 1.4%.

Housing Industry Association analysis of the data reveals Western Australia had the biggest increase in home starts – up 136% compared with the same quarter last year. South Australia was next with an increase of 62%, the Northern Territory 60%, Tasmania 51%, ACT 50%, New South Wales 37%, Queensland 29% and Victoria 15%.


Subscribe to our newsletter today and receive a FREE copy of How To Identify Hotspots