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Minor Recovery for New Home Sales

October 2011 has brought with it a minor recover in the number of new home sales in Australia. This was at least a small improvement from the lowest result in more than a decade.

The latest HIA – JELD-WEN New Home Sales Report found the number of new homes sold in the month of October 2011 increased by 5.5 %, although sales remained down by 8.0 % over the quarter to October.

A lift in demand for new home sales, no matter how small is positive news for the Australian Construction industry.The recent drop in the cost of fixed rate home loans as well as decline in variable rates, in conjunction with a competitive building market, and a greater availability of skilled trades makes now one of the best times in history to build a new home.