The Housing Industry Association (HIA) has released new home sales data for November, which posted a strong 7.7% increase – the fourth consecutive month of rises:
“The new home market has continued its upward trend, with sales increasing by 7.7 per cent in November. This is the fourth consecutive monthly increase and leaves sales in the three months to November 8.0 per cent higher than the previous three months,” stated HIA Economist Angela Lillicrap.
The HIA New Home Sales report – a monthly survey of the largest volume home builders in the five largest states – is a leading indicator of future detached home construction.