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HIA reports positive trend for housing industry

Published on April 24, 2013

Apr 24, 2013

It has been interesting to read the latest figures released by the Housing Industry Association and the Reserve Bank of Australia.

The Reserve Bank revealed in its’ March paper that “Households’ net wealth has been rising recently due to the recovery in housing and other asset markets, as well as continued higher saving and borrowing restraint”. It appears that the revival of the housing market is helping us become wealthier, noted the RBA in its’ latest Financial Stability Review.

Meanwhile, the HIA reports a positive trend in the first quarter of the year. Total new home sales rose by 10.6 per cent in the quarter ended in February. The recovery which appears to have commenced since late last year, has been evident in both Queensland and New South Wales. New house sales growth was particularly strong in NSW showing a 17.3 per cent increase.

The HIA also reports there was a 13.6 per cent lift in residential land sales in the December 2012 quarter and that’s an encouraging result in its own right.

Here at Perry Homes our first quarter results have certainly cemented our belief that the housing industry is set for a recovery in 2013. Our figures are showing a significant 30.6 per cent increase in initial deposits received. We are seeing many investors re-entering the market as well as other market segments taking advantage of government incentives.

We are also being kept busy with opening many new displays both in Queensland and New South Wales. We have just opened a new display in the Northlakes Estate in Cameron Park and next month will open new displays in Yamba and Gunnedah. More details are below.

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