The HIA has released its February New Home Sales Report, which is a survey of Australia’s largest volume builders, and it shows that home sales have plateaued – effectively treading water over the past year, despite a modest rise in January on the back of ‘multi-unit’ sales:
Total seasonally adjusted new home sales increased by 1.8 per cent in January 2015, following the December decline of 1.9 per cent. The latest monthly increase was driven by a 9.9 per cent rise in ‘multi-unit’ sales, while detached house sales remained largely unchanged in January 2015 (up by 0.1 per cent).
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Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
