8/12/2019 Home Sales Head Higher in June Quarter
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29 July 2014
HIA New Home Sales Head Higher in June Quarter
New home sales took a step higher in the month and quarter of
June 2014, said the Housing IndustryAssociation, the voice of
Australias residential building industry.
The HIA New Home Sales Report, a survey of Australias largest
volume builders, shows an increase of1.2 per cent in the month of
June 2014 and a rise of 2.0 per cent in the June quarter. Sales of
multi-unitsdrove the monthly result, surging by 15.9 per cent.
Detached house sales fell by 1.0 per cent in June.
Detached house sales increased by 2.6 per cent in the June 2014
quarter despite falling in the finalmonth, said HIA Chief
Economist, Dr Harley Dale. That is a healthy note on which to
finish the fiscalyear.
Further, albeit modest growth in detached house sales last
quarter, together with very elevated multi-unit sales, augers well
for new residential construction in addition to wider elements of
the domesticeconomy, Harley Dale remarked. Detached house sales
increased in four out of five mainland states inthe June quarter,
another pleasing aspect to observe.
The new home building sector will provide a healthy contribution
to broader economic growth in2014/15,said Harley Dale. As the
recovery enters its third year, the magnitude and duration of
thecurrent new home building upcycle is less certain than would
usually be the case at this juncture. Theshare of medium/high
density construction is higher and there are considerable delays
occurring in theavailability of titled land for detached and
semi-detached housing.
In the month of June 2014, private detached house sales fell in
two out of five mainland states. There
was a decline of 3.2 per cent in New South Wales and of 4.2 per
cent in Victoria. Detached housesales increased by 1.8 per cent in
Queensland, 1.3 per cent in South Australia, and 2.2 per cent
inWestern Australia. In the June 2014 quarter, detached house sales
increased in NSW (+0.4 per cent),Victoria (+4.1 per cent),
Queensland (+6.6 per cent), and WA (+4.1 per cent). Detached house
salesfell by 8.4 per cent in South Australia in the June quarter,
perhaps an insight into the possibility that SAmay be the most
vulnerable new home building market in the second half of 2014.
For further information please contact:Harley Dale, Chief
Economist 0414 994 186For copies of the publication (media only)
please contact: Kirsten Lewis [email protected]
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HIA New Home Sales (LHS) ABS Seasonally Adjusted Approvals -
Private Sector (RHS)
+1.2%
Source:AB
S8731.0
andHIA
PRIVATE NEW DWELLING SALES - AUSTRALIA (SEASONALLY ADJUSTED)
EMBARGOED UNTIL 11.00 AM EASTERN STANDARD TIME
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