New homes sales rise in January

Posted on 2/03/2010  

Sales of new homes around Australia rose 9.5% in January compared to December, according to the Housing Industry Association’s New Home Sales Report.



It’s the second highest monthly result since February 2008, bettered in that time only by the August 2009 figure.



The HIA says the January result is an encouraging early sign that upgrade buyers and investors are coming into the new home market in sufficient numbers to offset the reduction in first-home buyer activity.


According to the HIA’s survey of large-volume home builders, sales of new houses increased 10.1% in January. Unit sales recorded a second consecutive monthly increase , rising 4.1% in January following a 14.5% increase in December.


New house sales increased by 3.1% in New South Wales and were up by 17.1% in Victoria, 6.3% in Queensland, 6.6% in South Australia and 12.2% in Western Australia.



« Back