Australia's new home sales jumped 15.2 percent month-over-month in November 2020, setting a new decade high and after a 1.3 fall a month earlier, data from Housing Industry Association showed. The upturn was driven by an improvement in market confidence as the economy recovered further from the COVID-19 disruption, with households hurrying to meet the initial deadlines of the HomeBuilder program, while Victoria state emerging from the stage four COVID-19 restrictions. Also, low interest rates, house price growth, and a change in consumer preferences away from apartment style living have all seen demand for detached housing rise. Many households have diverted their expenditure from travel and entertainment towards housing, including renovating their home. Sales grew in Victoria, South Australia, Western Australia, New South Wales, and Queensland. source: Housing Industry Association (HIA)
New Home Sales in Australia averaged 8020.15 Units from 1999 until 2020, reaching an all time high of 20768 Units in March of 2001 and a record low of 3647 Units in May of 2020. 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 January of 2021.
New Home Sales in Australia is expected to be 5800.00 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 5950.00 in 12 months time. In the long-term, the Australia New Home Sales is projected to trend around 5700.00 Units in 2021 and 5500.00 Units in 2022, according to our econometric models.