New home sales reached decade high in November
New home sales increased by a further 15.2 per in November to reach a decade high.
The HIA’s economist, Angela Lillicrap noted the HIA New Home Sales report – a monthly survey of the largest volume home builders in the five largest states, saw sales nationally increase in November across the five states surveyed.
There was a notable increase in the two largest states.
Sales in Victoria rose 20.6 per cent as they emerged from stage four restrictions.
A 15.9 per cent increase was recorded in New South Wales which had been lagging other jurisdictions.
“This data precedes the extension of HomeBuilder which was announced on 29 November 2020," Lillicrap noted.
“The extension of HomeBuilder should see strong sales of new homes reach into 2021.
Across the country, new home sales in the three months to November 2020 were higher in all regions when compared with the same period in 2019: Western Australia (108.8 per cent), South Australia (57.6 per cent), Queensland (34.0 per cent), Victoria (22.2 per cent) and New South Wales (20.7 per cent).
