Perth New Home Sales up 9.1% in June
WA has seen a 9.1% increase in detached house sales in June 2016, according to the latest HIA New Home Sales Report. The report is a compilation of data from surveys across Australia’s largest volume builders, which shows that the total new home sales ended 2015/2016 on a higher note.
“The overall trend is still one of modest decline for New Home Sales, but a bounce of 8.2 per cent in June 2016 highlights the resilience of the national new home building sector,” commented HIA Chief Economist, Dr Harley Dale.
“The overall profile of HIA New Home Sales is signalling an orderly correction to national new home construction in the short term, as are other leading housing indicators,” noted Harley Dale.
The sale of detached houses bounced back by 7.2 per cent in the month of June 2016. ‘Multi-unit’ sales continued their recent recovery, growing by 11.5 per cent after a lift of 4.9 per cent in May. In the month of June 2016 detached house sales increased in all five mainland states with the largest increases occurring in Queensland (+14.9 per cent) and WA (+9.1 per cent). Detached house sales increased by 7.5 per cent in NSW, 3.7 per cent in South Australia, and 2.2 per cent in Victoria.