Global Power | Local Knowledge | Uniquely Personal

New build sales rise for three consecutive months

Australia has seen a significant boost to the number of new homes sold in the fourth quarter of 2012.

New homes in Australia continue to sell well, as the Housing Industry Association (HIA) has reported the third consecutive month of improved sales.

The survey of the country's most prominent residential builders indicates a 6.2 per cent increase in December, bringing the total increase over the three months to 13.3 per cent. Total sales were up 3.3 per cent in quarter four when compared to quarter three.

This is the biggest increase experienced in Australia since the 21.1 per cent rise over the first quarter of 2009.

"If we look at the under-performing market for 2012 - detached houses - the December improvement was broad-based as sales increased in all but one of the surveyed states," said HIA economist Geordan Murray.

"However, the overall result for 2012 leaves plenty of room for improvement."

He concedes that Australia needs more than lower interest rates to bring the level of recovery need by the country's population and economy.

Posted by Steve Douglas



DISCLAIMER: All information provided is of a general nature only and does not take into account your personal financial circumstances or objectives. Before making a decision on the basis of this material, you need to consider, with or without the assistance of a financial adviser, whether the material is appropriate in light of your individual needs and circumstances. This information does not constitute a recommendation to invest in or take out any of the products or services provided by SMATS Services (Australia) Pty Ltd or Australasian Taxation Services Pty Ltd.

COPYRIGHT: All information provided is protected by international copyright laws. You may not copy, reproduce, distribute, publish, display, perform, modify, create derivative works, transmit, or in any way exploit any such content, nor may you distribute any part of this content over any network. Copying or storing any content is expressly prohibited without prior written permission of SMATS Group or the copyright holder identified in the individual content's copyright notice. For permission to use the content on please contact

Subscribe Now