Qld leads rise in new home sales

Housing Industry Association data showed private home sales up 17.5% in Queensland, followed by Western Australia (9.3%) and Victoria (8.8%). The HIA national survey of large builders showed sales of new homes rose 4.6% in February, the highest monthly level in almost three years. New detached house sales rose 6.9%, but the apartment and unit sector dropped 6.8%. “Both sales and building approvals for detached housing are signalling faster momentum ahead for this component of new dwellings to what was evident in the first phase of the recovery,” HIA chief economist Harley Dale says.

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