Australia's new home sales plunged 13.1 percent month-on-month in July of 2022, swinging from a 1.9 percent gain in June, data from the Housing Industry Association (HIA) showed. The decline reflected the impact of the recent increases in the cash rate, with builders reporting fewer enquires and visits to display sites. “If this decline in sales is sustained, which is expected, then the 1.75 percent increase in the cash rate so far, will have brought this pandemic building boom to an end," said HIA Chief Economist Tim Reardon. He added that the full impact of the rate increases will continue to flow through as an adverse impact on the sale of new homes for at least the next few months. All of the major states saw a decline in new home sales, led by Queensland (-15.5 percent) and New South Wales (-15.3 percent), followed by Western Australia (-13.5 percent), Victoria (-11.1 percent), and South Australia (-9.7 percent). source: Housing Industry Association (HIA)
New Home Sales in Australia averaged 7884.23 Units from 1999 until 2022, reaching an all time high of 20768 Units in March of 2001 and a record low of 3647 Units in May of 2020. This page provides the latest reported value for - Australia New Home Sales - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Australia New Home Sales - data, historical chart, forecasts and calendar of releases - was last updated on August of 2022.
New Home Sales in Australia is expected to be 5800.00 Units by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Australia New Home Sales is projected to trend around 5500.00 Units in 2023, according to our econometric models.