New home sales are declining... - PropertyInvesting.com

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mattsta
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@mattsta
Join Date: 2011
Post Count: 604
November 1, 2011 - 4:05 pm
Just read an article suggesting that new home sales are declining…
"New home sales declined in September with detached house sales posting their lowest monthly level since December 2000, said the Housing Industry Association, the voice of Australia’s residential building industry."
Read it here – http://www.bigpondmoney.com.au/new-home-sales-languishing
Any thoughts?
masky005
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@masky005
Join Date: 2011
Post Count: 13
November 1, 2011 - 9:18 pm
I'm not surprised by the results. However I wonder whether yesterdays interest rate cut will increase these figures for November period. I live in a new home development by lend lease- and have not seen any change in the demand for new homes in our area. If anything I think they are selling steadily at the same pace since opening the development in 2009.
Mick C
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@shape
Join Date: 2010
Post Count: 1,099
November 2, 2011 - 10:07 am
New housing has been declining for years…nothing new
Thats why we have the 10k QLD boost + soon to be released NSW New home concession.
Regards
Michael
Mick C | Shape Home Loans
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Jamie Moore
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@jamie-m
Join Date: 2010
Post Count: 5,069
November 2, 2011 - 11:52 am
Shape wrote:
New housing has been declining for years…nothing new
My thoughts as well….
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
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Narrowlothomes
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@narrowlothomes
Join Date: 2011
Post Count: 8
November 3, 2011 - 12:47 am
Working in the building industry has its highs and lows. Building has been low for a while but that will only increase demand for housing down the track. Here in Perth, there will be a problem soon as we need more housing to start to keep up with demand for rentals etc.
There are great bargains both established in the building sector. People have just been a little affraid to take the next step. The interesting thing is that in the week or so prior to the rate drop, land sales in developed older suburbs have taken off(ie larger blocks being sub-divided. I have been talking with a few REA in several areas and they have mentioned an increase.
Good new for every one.