HIA: Apartment sales crater as houses hold up

Thursday, 18 January 2018

From HIA New Homes Sales for December:

While detached house sales fell back by 5.7 per cent during 2017 as a whole, the year finished relatively strongly with a 7.1 per cent jump in sales in the final quarter. Given that sales volumes are a leading indicator of new building activity, the new home sales figures still imply a relatively healthy start to 2018 although we are still likely to see fewer new houses being built over the course of the year as a whole.

The HIA New Home Sales report’s results are based on a monthly survey of the largest volume home builders in the five largest states.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.