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New home sales improve

The building industry accross Australia is starting to feel the benefits of improved confidence as new sales start to increase.Owner occupiers and investors alike will be turning to new build as the scarcity in established markets looks set to continue into the near future.

A survey carried out among Australia's largest builders and developers shows a rise of 7.1 per cent in sales of new homes and units in April 2007, with sales reaching a level of 8,776 dwellings.

Sales of private detached houses increased by 7.2 per cent, after a flat result in March. The sale of multi-units rose by 6.5 per cent following two consecutive falls.

The report, released this week by building industry body, HIA, shows that sales were up over the three months to April but were still 14 per cent lower than the level over the three months to April 2006.

- market, property, growth, building, construction

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