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Australian home sales climb to 13 month high

The Housing Industry Association advises that New Home Sales rose to their highest level in 13 months in March 2009, assisted in no small way by the first home owners grant
The first home owners grant is credited for helping the new home sales market climb to a 13 month high in March 2009, with total new home sales rising by 4.2% in March ( to 8210), increasing from 3.9% in February.
HIA Chief Economist Dr. Harley Dale credited the grant as well as very low variable mortgage rates for the increase in sales. Dr Dale called on the Rudd Government to leave the FHOG " Boost " in place to continue the stimulus. The current boost , in the case of new home purchases, is as much as A$ 21,000.
New South Wales has led the resurgence, with new home sales jumping by 15.2% in March, Nationally the increase was 4.1%
Following 4 straight months of falls in sales of apartments, there was an increase of 4.7% in March. The HIA states that while investor enquiries have increased in recent months, building activity has not , which is a concern for low and middle income rental households.
- Australia, property, sales

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