The latest result for the HIA New Home Sales Report, a survey of Australia’s largest volume builders, signals further upward momentum for the new home building sector. Total seasonally adjusted new home sales posted an increase of 1.8 per cent in January 2015. The January new home sales result reflected a 9.9 per cent rise in ‘multi-unit’ sales and a 0.1 per cent increase in detached house sales. Sales for detached houses are essentially flat.
In January 2015 detached house sales increased by 1.2 per cent in New South Wales, 2.7 per cent in Victoria, and 5.6 per cent in South Australia. Detached house sales declined by 1.5 per cent in Queensland and 4.0 per cent in Western Australia. During the three months to January 2015, sales increased by 5.5 per cent in Victoria, 15.9 per cent in Queensland, and 1.7 per cent in Western Australia. Meanwhile, sales declined by 11.3 per cent in New South Wales and by 3.6 per cent in South Australia.
