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Detached homes improving sales in new property

Detached properties are now making up a greater proportion of sold homes, it has been reported.
Detached homes are making up a far larger proportion of sold properties across Australia, a new report released this week by the Housing Industry Association (HIA) has shown.

It said that in February, there was a rise of some 6.9 per cent in the number of sales of this type of new build home, which was far above the average of a 4.6 per cent increase for the purchase of all new properties. 

"Both sales and building approvals for detached housing are signalling faster momentum ahead for this component of new dwelling construction, compared to what was evident in the first phase of the recovery," HIA chief economist Harley Dale said. 

It comes after reports this week had said that the number of approvals in the first three months of this year had experienced something of a small decline.

However, Mr Dale said the significant improvement of detached sales added a new dimension to the market, and suggested that it could mean more balanced growth becoming evident down the line.

Buyers in Queensland and Western Australia were reported to be the biggest advocates of detached homes, with sales for new homes of this type up by 17.5 per cent and 9.8 per cent in the two states respectively.

Posted by Steve Douglas​

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