Australian home sales soar again - HIA

Posted by Design & Construct on 09-Oct-2015 02:01:28

In Construction, Labour Hire

As a result of Australia's increasing population and infrastructure demands, 2015 has been a year packed with housing activity. This should be of particular interest to anyone considering a career in real estate.

House sales rise again

According to the Housing Industry Association's (HIA's) New Home Sales Report, the number of houses sold across the country continues to soar after peaking in April. While many industry insiders believed that this would mark the end of the high sales rate, August figures show that this isn't the case.

The number of houses sold across the country continues to soar after peaking in April.

"It is becoming increasingly apparent that total sales activity has already peaked this year, but today's update shows that sales are remaining elevated," economist Diwa Hopkins explained in an October 2 media statement.

"Total seasonally adjusted new home sales increased by 2.3 per cent in August this year, driven by a 3.5 per cent rise in detached house sales. Multi-unit sales, however, declined by 1.7 per cent."

The HIA found these statistics were consistent with predictions for the actual new home building activity across the 2015-16 financial year. As such, construction professionals should also see an increased number of positions over the coming months.

State by state comparison

When searching for jobs in the property or real estate sector, it is important to consider where the work might be. In relation to detached house sales, four states improved, while only one decreased during August.

Impressively, South Australia saw the greatest increase (up 10.2 per cent). This was followed by Queensland (7 per cent), Victoria (3.4 per cent) and New South Wales (3.2 per cent). Western Australia (down 1.4 per cent) was the only negative point on a good result for detached house sales last month.

Sydney to outgun Melbourne?

Further insight around the Australian building and construction industry was outlined in a BIS Shrapnel Building Industry Prospects briefing. According to BIS Shrapnel Managing Director Robert Mellor, Sydney is poised to pass Melbourne in dwelling commencements in 2016.

This will be quite an achievement given the fact that Victoria has held this top rank for over ten decades.

"NSW is going to enjoy strong growth in both residential and non-residential building as it is experiencing healthy population growth, has a state government that is making good decisions and they are building the necessary infrastructure, particularly transport to encourage property development," Mr Mellor explained as quoted by Realty Today.

If you are a candidate in the property or real estate industry looking for a new challenge, contact the expert team at Design & Construct today.