Home / Real Estate / End of WA grant affects house sales

End of WA grant affects house sales

DETACHED house sales fell by 9.1 per cent in Western Australia in July.

The Housing Industry Association said the Western Australian Government’s first homebuyers grant ended on June 30 and as a consequence sales in July fell sharply from what was already a very low base.

The drop in new detached house sales in Western Australia was not as much as the fall in South Australia where sales fell 16.2 per cent and Queensland 16.1 per cent but higher than New South Wales where sales fell 5.2 per cent during the month.

The association’s chief economist Tim Reardon said the drop in new apartment sales contributed to the continuing decline in new home sales nationally since they peaked in mid 2015.

Mr Reardon said July’s result was driven by a 15.7 per cent decline in multi-unit sales and a more measured reduction in detached house sales.

“The large drop in multi-unit sales this month is in contrast to strong sales volumes late in 2016 and early 2017,” he said.

The HIA New Home Sales report – a monthly survey of the biggest volume home builders in the five biggest states – showed sales volumes declined by 3.7 per cent during July compared with the month before.

Sales for the first seven months of this year are 4.6 per cent lower than in the same period of 2016.

“This trend is consistent with HIA’s expectation that activity will decline modestly from these record high levels over a number of years.

“Victoria was the notable exception – as the only state to grow sales during July –  sales were up by 9.8 per cent on what is already a very high level of activity.’’

About Anita

Anita Mcinnes received a highly commended in the 2009 WA Media Awards suburban section for her reporting. Two of her sons were born at Swan District Hospital and for many years she was a partner in a small business, which operated in the Gingin-Muchea-Bullsbrook area. As a mature age student Anita studied journalism at Curtin University before working in Busselton, Dunsborough and Rockingham with West Regionals. She says the best part of her job is meeting eastern suburb residents and visiting the many attractions in the area.

Leave a Reply

Your email address will not be published. Required fields are marked *

*