07/07/2011 - 00:00

New home sales in WA at ‘dangerously low’ levels: HIA

07/07/2011 - 00:00

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THE Housing Industry Association says new home sales in Western Australia are at ‘dangerously’ low monthly volumes.

New home sales in WA at ‘dangerously low’ levels: HIA

THE Housing Industry Association says new home sales in Western Australia are at ‘dangerously’ low monthly volumes.

The HIA-JELD-WEN new home sales report showed detached home sales fell by 6 per cent in WA over May, contributing to a 2.4 per cent drop nationwide.

The report found detached new home sales fell by 7.8 per cent in New South Wales, 6.7 per cent in Victoria, and 3.2 per cent in South Australia.

Sales increased by 19 per cent in Queensland, from a very low base, the HIA said.

Over the three months to May 2011, new home sales in WA were down by 5.2 per cent on the previous corresponding period.

“Securing an affordable price for a detached house in Western Australia is akin to navigating a plane through the volcanic ash cloud emerging from a vociferous eruption,” the HIA report said.

“Housing affordability has deteriorated in Western Australia in recent years in the face of, among other factors, inadequate land supply and a consequential sluggish rate of new home building.

“If any inroads are to be made on the Western Australian affordability dilemma, policy action is required to provide a shot of adrenaline in addition to longer-term reform.”

 

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