The outlook for house building is optimistic despite the downright sales of new homes for sale in Australia.
According to the survey conducted by a Housing Industry Association last Novemeber, new home sales rose by just only 0.3 percent due to lack of finance availability seriously influenced the weak multi-unit, medium to high density housing sector. The good result comes next after the sales fell by 6 percent in October based from the survey done by Australia's largest Home Builders.
Western Australia was the stand out state because of having an increase of 12.1 percent for detached new home sales in November. In NSW, the sales were up by 2.7 percent, in South Australia, 2.6 percent but in Queensland and Victoria, they fell by 1.8 and 2.5 percent respectively.
Commsec economist Craig James said the big picture was more positive than the figures suggested. According to him, new approvals to build new homes for sale have increased by more than a third since this year while loans that have taken out to build new dwellings are currently at the highest levels in 15 years.
Source: The Australian News
According to the survey conducted by a Housing Industry Association last Novemeber, new home sales rose by just only 0.3 percent due to lack of finance availability seriously influenced the weak multi-unit, medium to high density housing sector. The good result comes next after the sales fell by 6 percent in October based from the survey done by Australia's largest Home Builders.
Western Australia was the stand out state because of having an increase of 12.1 percent for detached new home sales in November. In NSW, the sales were up by 2.7 percent, in South Australia, 2.6 percent but in Queensland and Victoria, they fell by 1.8 and 2.5 percent respectively.
Commsec economist Craig James said the big picture was more positive than the figures suggested. According to him, new approvals to build new homes for sale have increased by more than a third since this year while loans that have taken out to build new dwellings are currently at the highest levels in 15 years.
Source: The Australian News
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