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Are new homes losing their appeal?

By Matt Hurlston

Demand for new real estate in Oakleigh may have started to slide, as national figures show sales of new-build homes fell across the country in February. The Housing Industry Association (HIA) released its New Home Sales Report, which confirmed a 5.3 per cent fall from the previous month.

However, the HIA's chief economist Harley Dale suggested there might not be any reason for immediate concern. He described the fall as "larger than desirable", but indicated there could be potential for a sales boost later in the year.

"New home sales are down, but far from out," commented Dr Dale.

"Over the three months to February 2016, the sale of detached houses increased by 1.8 per cent. The sale of multi-units nudged up by 0.8 per cent over the same period."

Earlier this year, Master Builders Australia revealed it had high hopes for residential construction in 2016. The group revealed that despite a fall in approvals towards the end of last year, there were strong signs this trend would be reversed over the next 12 months.

In the 12 months to November, there were a total of 231,489 dwelling approvals – that marks a rise of 15.5 per cent from the previous year. For these levels to be sustained, Master Builders indicated that policies need to be put in place to improve people's confidence in the property market.

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It doesn't matter whether you have your sights set on a brand new property or something with a little more character – Matt Hurlston and his team are here to help.

He's an experienced real estate agent in Carnegie with a sound knowledge of the local area, which is just what you need to find a home that suits your individual needs. Get in touch with us today to discuss what you want from your next property.

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