Sales for the new housing sector have sky-rocketed, according to a survey of Australia’s largest volume builders, the HIA New Home Sales Report.
““The headlines for the national new housing sector continue to dazzle in early 2015,” said HIA chief economist Harley Dale.
“Total seasonally adjusted new home sales increased by 1.1% in February, following a gain of 1.8% in January, and the volume of sales is now just above the previous peak of April 2014.”
Dale said the February new home sales result reflected a jump of 11.1% in ‘multi-unit’ sales, while detached house sales fell by 1.3 per cent.”
HIA new home sales and ABS building approvals suggest there will be further upward momentum to multi-unit dwelling construction in 2015, and a consolidation in detached house building at volumes above the long-term average.
“New home building conditions vary greatly around the country once you dig below the national surface, as is the case with residential property prices,” said Dale.
"Detached house sales are easing in New South Wales and Western Australia, previously key drivers of growth, and have fallen significantly in South Australia.
“The modest growth in new house sales in Queensland and Victoria is not enough to offset these declines.”
With interest rates at their lowest for more than 50 years, there are some great rates available. The best thing to do is to compare rates from all the lenders. Let us help take the leg work out of doing this - Compare Home Loans now
Top Suburbs :
tweed heads south
Get help financing your investment
Do you need help finding the right loan for your investment?
When investing in property, it is important to make sure that you not only have the lowest available rate that you can get, but also have the correct loan features for your needs.
Just fill in a few details below and we'll then arrange for a local expert Aussie Mortgage Broker to contact you and work out what features or types of loans are right for your needs. We'll even help with the paperwork. Plus, our mortgage broking service is at no cost to you.
We value your privacy and treat all your information seriously - you can check out