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Apartments up, houses down

Apartments are beoming mor epopular amongst Australians as these recent results show.The move to apartments is a natural progression of the market due to the improved lifestyle and affordability offered by this type of accomodation.Victoria in particular is leading the way in this area.

Sales of new apartments were up during September, even though the number of new homes sold in Australia generally fell for the fifth time in six months, a new report shows.

HIA's New Home Sales figures, released this week, show that the sale of new homes and units among Australia's largest builders and developers fell by three per cent in September to 7,342 dwellings.

Sales of private detached houses dropped by 6.2 per cent, while apartment sales increased by 18.2 per cent, following a weak July/August.

For the month of September, detached house sales fell by 22 per cent in Queensland and were down by 15 per cent in New South Wales, six per cent in Western Australia, and three per cent in South Australia.

Sales in Victoria bucked the trend, jumping by 23 per cent following three quiet months.

- housing, markets, sales, activty

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