Sales of new homes in Western Australia in April were up 10.6 per cent, according to the Housing Industry Association, but numbers were still down on those seen two years ago.
Sales of new homes in Western Australia in April were up 10.6 per cent, according to the Housing Industry Association, but numbers were still down on those seen two years ago.
The sale of 1,407 houses in April represented a recovery from a 12.7 per cent drop in sales the previous month.
Sales over the three months to April were 10 per cent higher than over the three months to January, but were 20 per cent down when compared to the three months to April last year.
Nationally, new home sales grew by 7.1 per cent in April to 8,776 dwellings, the HIA said.
Sales of private detached houses rose by 7.2 per cent in April after a flat result in March, while the sale of multi-units rose by 6.5 per cent after two consecutive months of decline.
While new home sales increased in the three months to April, the national market was still much softer than during the same period last year, with sales 14 per cent lower than in the three months to April 2006.
HIA Western Australia Regional Executive Director Sheryl Chaffer said she hoped there would be a bounce in sales figures once the impact of first home buyer stamp duty concessions were felt in the market.
The full text of an HIA (WA) announcement is pasted below
New home sales in Western Australia were up in April 2007, but in absolute terms still reflect a home building industry plagued by poor housing affordability.
HIA's New Home Sales figures released today show a rise of 10.6 per cent in April for the sale of new houses among Western Australia's largest builders and developers, following a drop of 12.7 per cent in March. Sales reached a level of 1,407 detached houses. Sales over the three months to April were 10 per cent higher than over the three months to January, but were 20 per cent down when compared to the three months to April last year.
Australia's peak building industry body, HIA, said that while new home sales rose in April, the overall result of just over 1,400 detached home sales was well down on the number seen two years ago.
HIA Western Australia Regional Executive Director, Ms Sheryl Chaffer, said that while home building activity levels are healthy, and house price growth is moving back into the realms of reality, many potential first home buyers are still a long way from being able to consider entering the Western Australian Housing market.
"While we welcome the rise in home sales in April, we arestill well aware that ove rthe past year the affordability dilemma has shifted from the pricing out of low income families, to the pricing out of middle income families as well," she said.
"We remain hopeful that, with the first home buyer stamp duty concession threshold being doubled, there might be a sustained bounce in sales figures," she added.
HIA's New Home Sales Survey is compiled from a sample of the largest 100 residential builders in Australia and is the most leading indicator on new housing activity.
