According to the latest Housing Industry Association (HIA) New Home Sales report, Victoria showed the largest increase in the sale of new homes during May – which could be great news for anyone looking into Carnegie real estate.
New home sales reached their highest point in 18 months this past May, with Victoria showing the largest growth percentage across the country – increasing by 8.8 per cent.
New South Wales and South Australia also showed considerable percentage growths, climbing 4.3 per cent and 6.9 per cent respectively.
The chief economist for the HIA, Harley Dale, said in a statement released July 3 that the rise was a nice return from the “low depths” of the new housing market in 2012.
He went on to say that the modest growth experienced during 2013/13 was expected to continue into the new financial years.
Multi-unit sales also experienced a relatively fast monthly growth pace of 5.7 per cent.
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