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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.