News Bulletin

New home sales post modest rise

Sales of new homes showed a 0.9 per cent increase in March, according to a survey of Australia's large volume residential builders.

The Housing Industry Association's New Home Sales report shows that, following a decline of 5.2 per cent in February, private sector detached house sales increased by 1.9 per cent in March 2010.

Sales of multi-units, however, fell by 8.7 per cent.

In March 2010 detached new home sales increased by 2.7 per cent in New South Wales and were up by 5.6 per cent in Victoria, 5 per cent in South Australia, and 0.6 per cent in Western Australia.

Sales fell by 3.4 per cent in Queensland.

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