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The first home owner boost has pushed new home sales to their highest level in over a year, according to the Housing Industry Association (HIA).
New home sales rose by 4.2 per cent in March, the third consecutive increase and a 20 per cent improvement in just three months, the association said yesterday.
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Furthermore, detached new home sales rose over the quarter across all mainland states – the first across-the-board improvement since the beginning of 2007.
New apartment and unit sales in contrast declined 14 per cent over the quarter.
Harley Dale, HIA chief economist, said the first home owner boost was clearly lifting residential building activity and securing jobs
“An extension by the federal government of the first home owners boost would secure jobs and help tackle the chronic shortage of housing across Australia,” he said.
