New home sales up but off the boil

The Housing Industry Association's survey of new home sales shows that 12,337 new houses and units were sold across Australia during April 2002, a 9 per cent increase on the March 2002 figure, but down on sales for April last year.

Sales for the three months to April 2002 were up 17 per cent on the previous quarter – at 35,090 – with Victoria recording the strongest gain. 8,892 new homes were sold in Victoria during the quarter, down 11 per cent on last year but up 26 per cent on the previous quarter.

Western Australia recorded 5,052 sales, up 22 per cent on the January quarter, NSW 6,113 – up 21 per cent, South Australia 1,998 – up 16 per cent, and Queensland 5,594, the only State to show very little change, with its previous quarter figure at 5,582 and up 13 per cent on last April's figure. All other States recorded falls from the same period in 2001.