Australian new home sales fell 1.8 percent month-over-month in January 2019, following a 6.7 percent decline in the previous month, according to Australia’s Housing Industry Association (HIA) data. Across the country, sales in the three months to January 2019 compared with the same period a year earlier were lower most significantly in Queensland (-30.2 percent), New South Wales (-20.7 percent), Western Australia (-11.0 percent) and Victoria (-10.6 percent). New house sales have been trending downwards nationally since the end of 2017. New Home Sales in Australia averaged 8347.90 from 1999 until 2018, reaching an all time high of 20768 in March of 2001 and a record low of 4769 in August of 2018.
New Home Sales in Australia is expected to be 5000.00 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 5368.81 in 12 months time. In the long-term, the Australia New Home Sales is projected to trend around 5550.00 in 2020, according to our econometric models.