New home sales rebounded after poor results in the first four months of 2019 in May, reaching their highest monthly level in more than a year.
Federal elections have affected market confidence and discussions on proposed capital gains tax changes have heightened uncertainty early in the year, according to the report. Chief Economist of HIA, Tim Reardon.
"This month's results confirm our forecasts that the decline in construction activity would begin to stabilize from the second half of 2019 and stabilize at a level below the peaks reached in 2017", did he declare.
The HIA report on new home sales showed that the largest Australian states had seen an improvement in their home sales. The results implied a widespread increase in the sentiment of the housing market across the country.
New home sales rose sharply in the five largest states, New South Wales (+ 54.2%), Western Australia (34%), Queensland (+ 26%) ), Victoria (+ 25.3%) and South Australia (+ 0.9%).
Reardon said that a lightening of the credit crunch, a decline in interest rates and the possibility that the Australian Australian Prudential Regulatory Authority is implementing reforms to the guidelines for Mortgage loans could help boost sales activity.
"The slow start of 2019 was marked by fierce competition among home builders," he said. The increase in sales shows that more and more homebuyers are seeing opportunities in this competitive business environment. are needed so that the market does not drop anymore. "
Top suburbs:
Lockridge
,
Cardiff South
,
Glendenning
,
Bligh Park
,
North Lambton
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