Australian new home sales increased by 28.8 percent month-over-month in May 2019, the most in over a year, following a 11.8 percent drop in a month earlier. The improvement in new home sales was boosted by confidence following the end of the Federal election, with banks starting to lend again, as well as lower interest rates and an expectation that
APRA will implement reforms to mortgage lending guidelines. Across the regions, new home sales jumped in all four major states: New South Wales (54.2 percent), Western Australia (34 percent), Queensland (26 percent), Victoria (25.3 percent), and South Australia (0.9 percent). 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 4200.00 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 5200.00 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.