The number of new homes sold in Australia sky-rocketed in August, making up for a flat mid-2009, according to the Housing Industry Association (HIA).
The number of detached house sales increased by 11.8 per cent and the number of apartments sold jumped 7.5 per cent.
HIA chief economist, Harley Dale said "A late surge in sales to first home buyers ahead of the step-down in the new home boost, propelled new home sales by more than 11 per cent in August, the best monthly result for over three and a half years."
According to Dale, August's promising results won't be a once-off. "The boost to new home construction from the tripling of the First Home Owner Grant for new dwellings will be apparent throughout the second half of 2009 and well into 2010," he said.
Detached new home sales in August increased by 21.8 per cent in Victoria, 20.9 per cent in Queensland, and 15.1 per cent in Western Australia. Sales fell by 11.3 per cent in New South Wales and 2.5 per cent in South Australia.
