Australian new property sales flat in April: survey

Australian new household sales were flat in April, failing to fire at the start with the second quarter, a survey by the Housing Industry Association (HIA), Australia's biggest residential developing organization, revealed on Monday.

The newest HIA-JELD-WEN New Home Sales Report, a survey of Australia's big residential builders, showed that the amount of new homes sold limped 0.2 % greater in April 2011.

Detached property sales inched up by a 0.four % with increases inside the states of New South Wales (NSW) and Victoria, whilst detached residence sales fell in Queensland, South Australia and Western Australia.

The sale of multi-units posted a third consecutive decline, falling by two percent.

HIA Chief Economist Harley Dale mentioned the new dwelling building market was struggling in 2011and compact and medium sized enterprises had been feeling the pain.

"The new home developing market is struggling beneath the weight of excessive taxation and regulation, a stalled housing supply reform approach, and uncertainty more than interest rates," Dale mentioned.

"An industry kick-start is essential with each other with a re-invigoration with the reform course of action."

The survey found that detached new residence sales had increased by 7.8 % in NSW and by two.2 percent in Victoria. Sales fell by 1. 5 percent in Queensland and were down by 0.five percent in South Australia and 10.3 per cent in Western Australia.

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