Sales of new detached houses is at levels previously only observed when there is direct government stimulus, according to new home sales data from the Housing Industry Association:
“Sales of new detached homes increased by a further 11.3 per cent in December,” stated HIA Economist Tom Devitt.
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.
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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.
