Australia's new homes sales rose 7.3 percent from a month earlier to 4,548 units in August 2019, reversing a 7.2 percent drop in the previous month, data from Housing Industry Association showed. Sales increased in Victoria (11.0 percent), New South Wales (12.8 percent) and Queensland (10.6 percent), but fell in Western Australia (-5.3 percent) and South Australia (-4.1 percent). Despite the monthly lift in August, sales figures are still weaker than they were a year ago. New home sales were down by 4.6 percent compared with the same time a year ago and sales during the three months to August were 9.4 percent lower than a year ago. New Home Sales in Australia averaged 8203.50 Units from 1999 until 2019, reaching an all time high of 20768 Units in March of 2001 and a record low of 4035 Units in April of 2019.
New Home Sales in Australia is expected to be 4500.00 Units by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate New Home Sales in Australia to stand at 4500.00 in 12 months time. In the long-term, the Australia New Home Sales is projected to trend around 5650.00 Units in 2020, according to our econometric models.