Property

Unit sale boost not enough

NEW home sales increased for a second consecutive month in June 2012 due to a spurt in multi-units, said the Housing Industry Association.

The HIA New Home Sales report, a survey of Australia's largest volume builders, showed a rise of 2.8 per cent in June 2012 due to a 15.7 per cent jump in the sales of multi-units.

Detached house sales continued their disappointing run in 2012, growing by only 0.7 per cent in June following a decline of 2.0 per cent in May.

"It is encouraging to see a second consecutive jump in the sale of multi-units," said HIA Chief Economist, Dr Harley Dale.

"Sales were up by 30.8 per cent over the June 2012 quarter."

"It is, however, a stark reminder of how much catching up is left in the multi-unit sector when a lift of this magnitude still leaves sales volumes 36 per cent below their ten year average."

Over the June 2012 quarter detached house sales fell by 1.1 per cent to be a sharp 24.5 per cent lower than the volume for the June 2011 quarter.

"That's a concerning update which sees detached house sales running at an annualised level 35 per cent lower than the ten year average and 44 below the long term history of the series.

"Lower interest rates will assist new housing in 2012/13, but the large gap between the cash rate and variable mortgage rates will blunt their positive impact

"Investment and reform from governments is the key ingredient to lifting the new housing sector substantially above the recessionary levels of 2012. State governments have a crucial role to play, as do local governments, but it is the Federal government that needs to act first and  lead by example."

In June 2012 the number of seasonally adjusted new detached house sales increased by 2.0 per cent in New South Wales, 4.4 per cent in South Australia, and 23.5 per cent in Western Australia. Detached house sales fell by 9.6 per cent in Victoria and by 11.0 per cent in  Queensland.

Over the June 2012 quarter detached house sales fell in New South Wales (-6.2 per cent), Queensland (-21.1 per cent), and South Australia (-8.3 per cent).

Detached house sales increased by 9.8 per cent in Victoria due to a final burst from first time buyers in April and May ahead of the ending of the state boost.

In Western Australia detached house sales increased by 9.3 per cent over the June quarter, but problems with the building act means this improvement will not translate into construction activity any time soon.

Topics:  hia new home sales units



How to do Eat Street the right way

EVERYTHING you need to know to get the most out of your Eat Street experience and to avoid a food coma when you’re only one stall deep.

Don’t go chasing waterfalls…find them on these drives!

The Scenic Rim is just one place nearby that you'll love.

BRISBANE isn’t all bright lights and city slickers.

Science Festival seriously awesome

Don't miss the World Science Festival Brisbane!

CALLING everyone who wants to see something totally cool.

Drink where the cool kids do this summer

There are a bunch of new bars open in Brisbane, make sure you're there!

CHECK out these new funky bars.

Discover Brisbane’s laneway gems

Brisbane's laneways will surprise you.

NOT all of Brisbane City is as it seems…

Top five things to experience this summer in Brisbane

Tangalooma is amazing if you're keen for a dive, kayak or swim.

THIS summer get out and explore your capital city.

Your boots are made for walking these tours

Brisbane Greeters tours are a great way to learn the local history of the city.

YOU don’t need a bike or bus for a seriously good tour of Brisbane.

Prime Tweed site sells at auction

SOLD: The old Rivers commercial retail building at 79-81 Wharf St sold at auction for $2.475 million recently.

Tweed development site sold at auction for $2.475 million

The magnificence of Fingal's sunrise

SPECTACULAR: The sun rising over Fingal Head Lighthouse.

Behind the Lens: sunrise at Fingal Head lighthouse

Local Partners

Convoy to go ahead amid protests by conservationists

POTTSVILLE residents will push ahead with their plan to stage a community march in support of a Men's Shed


REVIEW: Under the Gun doco looks at right to bear arms

ARMED: A still from the 2016 documentary film Under the Gun by Stephanie Soechtig.

An in-depth look into America's gun culture.

Messing with your head

MIND BLOWN: What could be weirder than the realisation that we have another completely separate brain and nervous system than the one originating in our heads?

Fascinating connection between your gut and your brain

Neil Finn to headline Bluesfest

Neil Finn, of Crowded House fame, will play in Byron Bay with his wife Sharon and their band The Pyjama Club on June 11.

DON'T dream, it's not over, Neil Finn to hit the stage

Buderim dad rejects gay son's emotional plea for second time

Bride and Prejudice: Son’s emotional plea rejected again by unmoved father

What's on the big screen this week

Ewan McGregor and Jonny Lee Miller in a scene from the movie T2: Trainspotting.

This week's new releases offer plenty of variety for movie buffs.

REVIEW: Under the Gun doco looks at right to bear arms

ARMED: A still from the 2016 documentary film Under the Gun by Stephanie Soechtig.

An in-depth look into America's gun culture.

Hodges proud to be part of first channel dedicated to NRL

Justin Hodges is gearing up for his new gig on Fox League.

Footy star hopes to provide a voice for players on new NRL channel

Furious Price wants to quit I'm a Celeb after clash with Keira

Steve Price has threatened to quit the jungle.

Will camp ration clash with Keira cause Steve to call it quits?

Novel with lots of heart

The romance in A Quiet Kind of Thunder was only one of the joys of the book.

Book proves to be a gem with layers

New festival joins Quiksilver Pro party

Australian rockers the Rubens will headline the inaugural Cooly Beachfest at Queen Elizabeth Park, Coolangatta on March 18

Cooly Beachfest 2017 officially takes off

Prime Tweed site sells at auction

SOLD: The old Rivers commercial retail building at 79-81 Wharf St sold at auction for $2.475 million recently.

Tweed development site sold at auction for $2.475 million

$140k damage: landlord says property trashed, contaminated

He had what he calls "the tenants from hell"

Top 6 infrastructure projects in the Tweed for 2017

The Gold Coast Airport is getting an upgrade.

Find out what's going in the Tweed.

Submarine, buses and 3000 tyres removed in $100K clean up

The list of things removed from this property is beyond astonishing

Waterfront luxury in Tweed

14 The Mainbrace, Tweed Heads

Check out house of the week.

Ready to SELL your property?

Post Your Ad Here!