Home News Home sales in Australia dip in April

Home sales in Australia dip in April

Font size :
After a sharp rebound in March, new home sales in Australia plunged in April, showing that the property market is yet to shake off a downtrend that began in the second half of 2015.

According to a report by the Housing Industry Association, new home sales fell by 4.7 per cent in April following an 8.9 per cent surge in March—the biggest since 2010. Unattached housing sales declined three per cent, falling in four out of five mainland states. Among all the regions, only Victoria reported a gain of 14. 3 per cent.

Australia’s housing market is expected to have lower mortgage rates after the Reserve Bank lowered the official interest rate to an all-time low of 1.75 per cent earlier this month in the hopes of addressing deflation. The core inflation rate fell to 1.55 per cent in the first quarter, even though the Australian central bank is targeting an inflation rate between two and three per cent.

Still, the RBA has maintained a robust outlook on the economy for this year. Similarly, ANZ bank said it expects the economy to expand 0.8 per cent in the March quarter—a significant improvement over the 0.6 per cent growth in the December 2015 quarter.

GDP figures are expected to be announced this Wednesday, as well as China’s official manufacturing and non-manufacturing PMI reports, which are relevant to many Australian investors. The Australian Bureau of Statistics is also expected to report on producer inflation, building permits, retail sales, and trade

With interest rates at their lowest for more than 50 years, there are some great rates available. The best thing to do is to compare rates from all the lenders. Let us help take the leg work out of doing this - Compare Home Loans now

Mortgage News and Articles

Mortgage applications drop in second quarter Mortgage applications drop in second quarter

This marks the “beginning” of a downward trend, says Equifax executive Read more

To break monopoly, many smaller lenders could become banks To break monopoly, many smaller lenders could become banks The proposed change could break the Big Four’s monopoly over the mortgage market and help families get cheaper home loan rates ... Read more

Borrowing against the home: A strategy to pay for aged care Borrowing against the home: A strategy to pay for aged care Such debts can generally be divided into long-term and short-term loans ... Read more

NAB slashes growth forecasts for houses, units NAB slashes growth forecasts for houses, units Numerous factors, including tighter credit rules and the growing supply of new stock, have reined in Australia’s seemingly unstoppable housing market boom ... Read more

More mortgage news and articles

Sponsored Links

Saturday, Jul 22, 2017
Top Featured Rates
Top Bank Rates

Get help choosing the right home loan

Whether you're a first homebuyer, looking to refinance, or investing, it's important to have the right loan for your needs. Just fill in a few details below and one of our trusted mortgage advisers will contact you.

A quick & easy way to find the right home loan
  • Purpose of mortgage
  • Household Income
    $
  • How much do you want to borrow?
    $
  • How much deposit do you have?
    $
  • How much is your house worth?
    $
  • How much do you still owe on your mortgage?
    $
  • What type of mortgage do you have?


  • How much is your new home?
    $
  • How much do you want to borrow?
    $
  • How soon do you want a mortgage?
Next
  • First name
  • Last name
  • Where do you live?
  • Phone number

Special Offers

Related Keywords