Home sales strong in second quarter
The release of several new large home developments combined with well targeted marketing campaigns has seen private home sales lift in April.
The Housing Industry Association ’s (HIA’s) New Home Sales survey showed that an estimated 12,337 new houses and multi-units were sold during the month, a rise of nine percent on March.
HIA says that despite the threat of rising interest rates throughout April, new home buyers were clearly still being attracted to the value and affordability of new homes.
Ruth Morschel, HIA’s executive director of Public Affairs and Policy, says it has been another few encouraging months for the industry. “There can be some volatility in the monthly sales figures but the sales made in the three months to April showed a 17 percent increase on the quarter,” says Morschel.
Victoria recorded the strongest gain over the past three months due to the release and promotion of several new developments, rising from 7068 starts in the three months to January to 10,032 in the three months to April. NSW recorded the next highest increase, from 5072 in the first quarter of the year, to 6368 in the second.
Source: Building Products News.
31-May-2002