HIA: New home sales, commencements, past their peak

Friday 2 October 2015

The HIA New Home Sales Report for August is out and has recorded a 2.3% seasonally adjusted rise in new home sales during the month, driven by a 3.5% increase in detached house sales, which more than offset a 1.7% decline in unit sales.

The overall picture is presented below and shows that total new home sales peaked in April, but have held at an elevated:

Detached house sales peaked in April 2014:

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About the author

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.