Page 8 - Tom Devitt News Today

New home sales slumped in November, as rising rates continued their hit, latest HIA data has revealed. New home sales slumped in November, as rising rates continued to squeeze mortgage holders’ po

New home sales slumped in November, as rising rates continued to squeeze mortgage holders’ pockets and put a strain on building activity.

New home sales slumped in November, as rising rates continued to squeeze mortgage holders’ pockets and put a strain on building activity.  Data from the Housing Industry Association (HIA) showed n

The building sector has been pumped up from the backlog of construction work, but demand is beginning to ease as the cost of mortgages increases.

“In contrast, there were 30,926 new detached houses that commenced construction in the June Quarter 2022. While this is down by 0.8 percent on the previous quarter and 27.9 percent from the peak a year earlier, it is still 18.7 percent more than the same quarter in 2019, pre-pandemic.

There were record-high numbers of dwellings under construction in the June quarter 2022, the ABS has revealed.

More houses are being commenced than completed, new data shows

Petrol prices lifted by almost 10 Australian cents (US 6.5 cents) a litre last week, with the national ...

Following on from a 13.1 percent decline in July, home sales across Australia have fallen a further 1.6 percent, according to the Housing Industry Association (HIA).

The latest data reveals that July and August have seen the biggest decline in new house sales since last year’s lockdowns.