New home sales surprisingly dipped by 10 per cent in Western Australia in May, but turnover of new housing stock remains significantly higher than 12 months ago.
Western Australia has featured strongly in a list of residential building hotspots, with three local suburbs featuring in the top five nationwide for activity.
Western Australian home building approvals rose slightly in March, but it wasn't enough to stem the largest monthly decline in national approvals since July last year.
THE downturn in Western Australia's property market is continuing to challenge the residential building industry, with housing starts falling across the board and businesses being forced to adapt.
New home sales in Western Australia rose by 21.8 per cent in April, while the national figures were flat, recording a slight increase of 0.1 per cent, figures from the Housing Industry Association Ltd showed.
House sales in Western Australia fell almost 2 per cent in October against the weak rising trend across the nation, where high prices and buyer caution is keeping a lid on new home sales.
DEMAND for new homes in Perth remains strong despite the recent interest rate rise and changes to the Federal Government's first homebuyer's scheme, according to Housing Industry Association executive officer John Dastlik.
