June 2, 2010, Australia – Housing Industry Association (HIA) released a report that the percentage of houses for sale has been increased by almost 6 per cent in April because of the continuous rise in Victoria.
According to the report, the sales of private sector for detached houses for sale went up by 6 per cent in April while multi-unit sales growth inflated by 8 per cent following two soft months in February and March.
Over the three months to April 2010, new detached house sales were up 19 per cent in Victoria and 1 per cent in South Australia. However there was a decline by 6 per cent in NSW, 4 per cent in Queensland and 2 per cent in Western Australia. Detached new home sales increased by 27.6 per cent in Victoria and 4.3 per cent in SA in April. Although detached house sales fell 9.6 per cent in NSW, 4.5 per cent in Queensland, and 8.2 per cent in WA.
From the statement of the HIA chief economist Harley Dale said that “the new home sales report of Australia’s major residential home builders showed new home building in Victoria defied higher interest rates due to the state government’s first home buyer top-up grant for new dwellings.”
Source: The Sydney Morning Herald News
