April 12, 2010 , Australia – Last February the percentage sales of the new home sales have hit a speed bump in WA, slumping 5.1 per cent. A survey by the Housing Industry Association in accordance with the Australia’s 100 largest home builders showed 1293 new houses and units were sold in the state in February, 69 fewer than the previous month.
This decreased has been announced in which the HIA said the evidence was for a “clear upward trend” in the WA. New home sales were increased up to 8 per cent in the three months to February, and 9 per cent on the same period last year. January’s record excluded, the February figure was the highest according to the survey and date report since September 2008.
Because of the global economic crisis last February’s had a huge dent of the new home for sale market. With the government aside ended up bulk of the housing grants, that according to HIA chief economist Harley Dale statement “this stimulus has been highly successful in driving the first stage new home building recovery, but that stimulus will soon start to fade.”
The Reserve Bank increased the interest rate by 75 basis points from October to December, totting up about $150 to the monthly cost of an average $300,000 new home loan. However this April is predicting to recover and increase the percentage of the investors.
Source: The Sydney Morning Herald News
