Total new home sales across the country rose 8.9 per cent in March, following a 5.3 per cent fall in February, according to the association’s latest survey of large-volume builders.
Sales of detached homes rose in Queensland, Western Australia, NSW and Victoria, with Queensland the strongest market, recording a 13.2 per cent rise in detached house sales.
In South Australia, however, detached home sales fell 6.9 per cent.
The state also recorded the biggest drop in quarterly new detached house sales, with a 5.7 fall, while NSW was down 4 per cent.
Nationally, new home sales in the March quarter increased 2.8 per cent over the December 2015 quarter, but were still 1.7 per cent lower than the March quarter of 2015.
HIA economist Diwa Hopkins said the positive national result for March was consistent with Australian Bureau of Statistics building approvals data in previous months.
“The current level and trajectory of new home sales and approvals provides a strong signal that new home building activity in 2016 will remain strong,” Hopkins said.
“Tuesday’s cut to the (Reserve Bank’s) official cash rate (to 1.75 per cent) will also provide additional support to the residential construction sector.”
-AAP
