Australia's new homes sales fell 4.2 percent from a month earlier in May 2020, after a 1.1 percent decrease in April, data from Housing Industry Association showed. The decline in new home sales was mainly due to a fall in consumer confidence with households cancelling or delay housing purchase decisions given the uncertainty in the economy. New home sales fell by 20.3 percent in the three months to May 2020 compared to the previous three months. By jurisdiction, South Australia declined the most, falling by 31.7 percent in the three months to May 2020, followed by New South Wales (-25.3 percent), Western Australia (-19 percent), Queensland (-18.7 percent) and Victoria (-16.5 percent).
New Home Sales in Australia averaged 8128.77 Units from 1999 until 2020, reaching an all time high of 20768 Units in March of 2001 and a record low of 4035 Units in April of 2019. 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 July of 2020. source: Housing Industry Association (HIA)
New Home Sales in Australia is expected to be 4100.00 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 4900.00 Units in 2021 and 5500.00 Units in 2022, according to our econometric models.