New home sales in May 2013 continued their modest moves up and away from the record lows experienced in 2012, the Housing Industry Association (HIA) reported this week.
The HIA New Home Sales report, a survey of Australia's largest volume builders, showed that total seasonally adjusted new home sales increased by 1.6 per cent in May 2013, taking monthly sales back to their highest level in 18 months.
Detached house sales posted modest growth of 0.9 per cent through gains occurring in three out of five mainland states – New South Wales, Victoria, and South Australia. Multi-unit sales enjoyed a faster monthly growth pace of 5.7 per cent.
In the month of May 2013 detached house sales increased by 4.3 per cent in New South Wales, 8.8 per cent in Victoria, and 6.9 per cent in South Australia. Detached house sales fell by 2.2 per cent in Queensland and by 10.3 per cent in Western Australia.