New Home Sales +3 percent
The latest round of new home sales data released from the Housing Industry Association yesterday.
HIA's Chief Economist Harley Dale noted: "Australia is on track to commence a record number of homes this year", which means that an abundance of new stock is going to hit the market in 2015-16.
New home sales increased by 3 percent in October, with detached house sales in the quarter rising in Queensland and New South Wales.
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With this week's construction data and new home sales figures, new homes and properties are all the rage this week.
Today on Property Update Tyron Hyde of Washington Brown considers new versus old property depreciation benefits:
And services like these attract higher rates of depreciation in comparison to bricks and concrete.