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QLD and WA boost new home sales

New home sales have increased accross Australia, driven by strong demand in WA and Queensland.NSW and Victoria have softened, as can be expected in these markets which are coming out of slow down periods and just starting to show signs of moving into their next growth phase.

For the first time in four months, the number of new homes sold in Australia rose modestly in August 2006, thanks largely to gains in the Queensland and Western Australian markets, according to figures released this week.

New Home Sales data from building industry body HIA shows that the sale of new homes and units among Australia's largest builders and developers increased by 2.1 per cent in August to 7,667 dwellings.

This included an increase in private detached house sales by 2.6 per cent, while sales of multi-units eased back by 0.9 per cent.

Regional differences are still evident across Australia, with new detached house sales up in Queensland and Western Australia (by 10.1 per cent and 13.3 per cent respectively), but continuing to weaken in New South Wales (down by 3.4 per cent) and Victoria (down 10.6 per cent).

- market, growth, housing

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