Pete Wargent blogspot

CEO AllenWargent Property Buyers, & WargentAdvisory (institutional). 6 x finance author.

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Monday, 31 July 2017

New home sales at the lowest level since 2013

Crunch time

More signs that the peak of the residential construction cycle has been and gone.

There was a 5.8 per cent drop in new house sales in June, and a 10.7 per cent drop in multi-units. 

Considerable variation around the traps, with substantial monthly drops in New South Wales, Queensland, and South Australia.

Source: HIA

The Housing Industry Association expects dwelling starts to decline for next 18 months.