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Bounce in house sales 'encouraging'

A recent report has found a jump in the number of people buying new Australian homes.

More people are buying new-build property in Australia, according to the latest HIA-JELD-WEN New Home Sales report.

 

 

Drawing its data from a survey of over 100 of the country's biggest residential builders, it found a moderate increase in the number of new homes being purchased in February after a disappointing month in January.

 

 

Detached house sales rose by 2.2 per cent while multi-unit sales jumped by 10.5 per cent, a result which HIA chief economist Harvey Dale called encouraging.

 

 

Every state in the country improved its level of sales other than Victoria, the economist noted.

 

 

"Looking beyond just one month, however, there is much work to be done to see new home sales volumes back at healthy levels across the country," Mr Dale added.

 

 

The Victorian market continued to act as a drag on the overall recovery, despite Paul English, corporate auctioneer with real estate group Harcourts Victoria, asserting that residential sales in the state are moving towards stability.

 

 

Posted by Steve Douglas

 

 

- sales, housing, building, auction

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