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Detached housing gains popularity

Detached house sales were on the rise towards the end of the financial year, according to HIA.

Detached housing is proving more popular among property buyers, according to a new report from the Housing Industry Association (HIA).

In its HIA Home Sales Report, which covers the most major volume builders in Australia, the sales of detached houses rose by 7.3 per cent in the last month of the financial year.

HIA chief economist Harley Dale said: "Detached housing has gained momentum as non-detached housing - primarily mid/high density product - has lost momentum to date."

Mr Dale explained that in the first half of the 2013 financial year, multi-unit sales were more popular than detached houses. In the second half it was the other way around as multi-unit sales fell by 17.5 per cent.

Part of the reason why multi-unit sales can be popular is that Australia has an ageing population and there is a trend among older people to move to apartments after their children have left home.

Posted by Ravin Chatlani

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