New home sales edge up

Sheraton Mirage Villa - Port Douglas

Sheraton Mirage Villa - Port Douglas

Sales of new homes rose slightly in August following two consecutive falls, the Housing Industry Association (HIA) has recently announced.

The report which was a survey of Australia’s major residential builders, showed that the number of new homes sold in August 2011 edged up by 1.1 per cent in August following declines of 8 per cent in July and 8.7 per cent in June.

Detached house sales increased by 1.5 per cent in the month of August 2011, but were down by 15 per cent over the August quarter.

Sales of multi-units fell by 2.2 per cent in August.

Rendezvous Reef Resort Port Douglas

Rendezvous Reef Resort Port Douglas

HIA Chief Economist Dr Harley Dale remarked that the improvement in the volume of detached house sales in August reflected a bounce of 9.8 per cent in Queensland and a rise of 3 per cent in Victoria. “August marked the first month of the Queensland Government’s Building Boost Grant and this has clearly had a positive, if modest impact on sales”, Dale added.

Detached house sales fell in the remaining three mainland states, dropping by 5.8 per cent in New South Wales, 4.7 per cent in South Australia, and 0.7 per cent in Western Australia.

Source: Your Property Investment Magazine

About Port Douglas

Port Douglas real estate - Real estate in Port Douglas is now sought after the world over. Our passion for where we live stems from Port Douglas being the only place in the world where two natural, world heritage listed sites (the Great Barrier Reef & Daintree Rainforest) exist side by side. If you would like buy or live in your own piece of paradise, please browse our real estate listings The views expressed in the Port Douglas blogs are not those of Century 21 Port Douglas Real Estate nor the Century 21 franchise.
This entry was posted in Australia, Housing Affordability, Housing Data, Interest Rates Australia, Property Investor, Property Values, Propety Prices, Queensland, Real Estate, REIA. Bookmark the permalink.

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