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New home sales strengthen

Sales of new homes continue to strengthen, new research shows.

The Housing Industry Association’s latest New Home Sales report shows that sales of new detached houses increased by 2.3% in September compared to the previous month.

In the six months to September 2021, Western Australia led the pack, up by 46.3% compared to the same period in 2019, followed by New South Wales (up 34.6%). Sales fell in Queensland (down 0.8%), Victoria (6.1%) and South Australia (13.4%).

In the six months from April to September, new home sales were 9.3% above the same period in 2019 and 0.8% above the same period in 2018.

On a quarterly basis too, the last three months were up by 7.4% and 0.6% on the same quarters in 2019 and 2018, respectively.

HIA Economist Tom Devitt suggests those are the best years for comparison, rather than 2020, as they pre-date both the pandemic and the HomeBuilder stimulus.

“These relatively strong sales will ensure that the boost in home building flows through to the second half of 2022”, Devitt said.

“When combined with the ongoing strength in renovation activity, this will continue to see high demand for skilled trades and ongoing employment opportunities in the sector into the second half of 2022”, he concluded.

About Adam Nobel

Principal
M. Bus, Grad Dip Adv, B.Int Bus, LREA

adam@hugoalexander.com.au

0417 007 001

Adam is the founder and Principal of Hugo Alexander Property Group. With a previous career in advertising, 20 years experience in property investment, and 14 years in Brisbane real estate, he knows the market inside out to ensure his clients grow their wealth faster.

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