HIA: New home sales increase nationwide during December

9.10.13New home sales increased nationwide during 2013, which could be great news for those with an interest in off the plan property development in Sydney. While 2012 saw a dwindling in the number of new homes built, last year saw a growth in their prevalence.

HousingĀ  Industry Association Economist Diwa Hopkins said the recovery undergone in 2013 was the first recorded increase in five years, with the challenge now being to sustain these numbers heading into the future.

“During the final quarter of 2013, aggregate new home sales climbed by 6.3 per cent to reach a level not seen since mid-2011. This was at a time when sales activity was being boosted by the government stimulus,” said Ms Hopkins in a January 30 statement.

Over the last 12 months as a whole, new home sales rose by 14.4 per cent, highlighting the first year of growth since 2008.

“Total new home sales were largely unchanged in the month of December, however, the broader trend shows a healthy profile of recovery throughout 2013 and the underlying details are also fairly encouraging,” said Ms Hopkins.

“Looking at detached house sales, the growth in this segment has broadened in its reach, with four out of the five surveyed states showing monthly and quarterly increases in December 2013.”

This growth occurred alongside a nationwide decrease in unit sales, which fell by 6.6 per cent during December 2013 alone. There was a 5.8 per cent increase in the number of new homes sold in New South Wales during December.

Furthermore, during the final quarter of 2013, New South Wales saw a 3.5 per cent rise in new home sales – supporting to overall evidence that Sydney was one of the strongest real estate markets in Australia last year.

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