Home buyers return
After a slow Christmas period, new home buyer interest bounced back in January with a total of 11,090 news homes sold nationwide, a rise of 23 percent over the previous month.
The Housing Industry Association says there were strong rebounds in all states with Western Australia recording a 55 percent rise in the number of sales for the month.
Simon Tennant, the HIA’s chief economist, says that fears over a rapid decline in home building activity are largely unfounded. “It appears that the momentum built up throughout 2002 in new home sales looks set to spill over into the first quarter of this year,” Tennant says. “There are plenty of signs that suggest activity will hold up strongly for some time to come.
“While we do not expect the leading indicators of building activity to come off the boil, the considerable amount of work in the pipeline will ensure actual activity ticks along for some time yet.”
Source: Building Products News.
28-Feb-2003