New home sales up at the end of 2012
New statistics released by the Housing Industry Association (HIA) shows a hearting increase in new home sales, recording December as the third consecutive month of growth in the sector.
HIA’s New Home Sales report shows that the total number of new home sales increased by 6.2 per cent in December, recording a 3.3 per cent increase for the quarter, but still finished 12.7 per cewnt lower than the same time in 2011.
“The promising headline rise last December was driven by both detached house and multi-unit sales,” said HIA Economist, Geordan Murray.
“Furthermore, if we look at the under-performing market for 2012 - detached houses - the December improvement was broad-based as sales increased in all but one of the surveyed states.”
In the month of December 2012 detached house sales increased by 7.1 per cent in New South Wales, 6.0 per cent in Victoria, 3.8 per cent in Queensland, and 12.2 per cent in Western Australia. Sales eased by 1.8 per cent in South Australia, but that followed three consecutive rises. Over the December 2012 quarter detached house sales increased in New South Wales (+14.4 per cent), South Australia (+9.3 per cent), and Western Australia (+2.5 per cent). Sales fell over the December quarter last year in Victoria (- 8.4 per cent) and Queensland (-5.5 per cent).