Australia's apartment boom

Solid demand for apartments, townhouses and semi-detached houses across Australia contributed to new home sales figures rising again in February, an industry survey shows.

The Housing Industry Association survey of large volume builders showed sales of new homes rose 1.1 per cent in February, following a 1.8 per cent gain in January. Sales of multi-units jumped 11.1 per cent to 1643 in the month, while sales of detached homes slipped 1.3 per cent to 6099.

"The signal from both HIA new home sales and ABS building approvals is for further upward momentum to multi-unit dwelling construction in 2015, but a consolidation in detached house building at volumes above the long term average," said HIA chief economist, Harley Dale.

The above is an extract from:

http://www.therealestateconversation.com.au/news/2015/04/01/australias-apartment-boom/1427882400

4C Realty

Caroline He