Home News New home sales increase 6% in December

New home sales increase 6% in December

Font size :
The Housing Industry Association (HIA) said the number of new home sales climbed 6% at the end of last year to 7,526 dwellings. Sales of detached homes surged 9.5% after dropping 7.5% in November. In sharp contrast, sales of apartments plunged 12.6% to its lowest level in 11 months after rising 8.8% in the previous month. New home sales jumped 24.4% in Victoria, WA were up 14.2% while Sydney gained 4.6% in December. HIA's chief economist Harley Dale said while it was good to see a positive end to 2006, overall sales for the year were down 11% compared to 2005. "It's encouraging to have seen stabilisation in new home sales over the second half of last year, but it's going to be a long road back to a sustained recovery for new housing," he said. "Subject to interest rates being kept on hold that housing recovery won't gather legs until the second half of 2007." HIA's New Home Sales Survey is compiled from a sample of the largest 100 residential builders in Australia and is considered a leading indicator of new housing activity.

It can be confusing to know whether to get a variable rate or fixed rate mortgage, and what features are important. That's why it's important to not only check the right rates, but make sure that you're getting the right features in your home loan. Get help choosing the right home loan

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

Sunday, Jul 23, 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