The HIA’s New Home Sales report revealed that private sector detached house sales fell by 4.7% in February 2010, while multi-unit sales declined by 9.4%.
- Detached new home sales in NSW fell by 9%
- QLD was down by 5.8%
- SA was down by 7.9%
- WA was down 5.1%
- VIC was the only state to see an increase in sales over the month, growing by 16.1%
“Land and labour shortages, frustrating planning delays, and the inequitable level of taxation and regulation on new housing are all deterrents to households entering the new home market as opposed to existing property,” said Dr Dale.
“In terms of the entire new home building market we also need to see urgent rectification of the unjustifiably low level of finance being extended to small residential developers,” he said.
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