Australian New Home Sales increased 1.1%

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Thursday, Jun 29 2017

Australian New Home Sales increased 1.1%

During the month of May 2017, total new home sales increased by 1.1 per cent. This was helped by a 2.2 per cent increase in new detached house sales although multi-unit sales were down by 2.6 per cent during the month. Queensland experienced the largest increase in new detached house sales during the month (+31.1 per cent) followed by NSW (+16.8 per cent). The largest reduction in sales occurred in South Australia (-15.6 per cent). Reductions also affected the markets of Victoria (-14.7 per cent) and Western Australia (-3.4 per cent).

“HIA’s New Home Sales metric acts as a useful leading indicator of short-term prospects for building activity with respect to new dwellings. The results for May again demonstrate how stark the differences currently are across Australia’s markets. Very robust increases in new house sales occurred in Queensland and New South Wales during May, in contrast to Victoria and WA where sharp contractions were experienced during the month.''

More in this category: « Pending Home Sales down by 0.8% German CPI up by 0.2% »

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