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New Home Sales Increase in Queensland

By Amanda Shannon

Queensland has been the only state in the country to see an increase in the sale of new homes, which may be of interest to those looking to buy brand new residential property in the Gold Coast.

This information comes from the New Home Sales report released by the Housing Industry Association (HIA) last week (August 29).

According to the report, new home sales for the Queensland and Gold Coast property market rose by 12.6 per cent over the month of July. This is an encouraging result, as the market experienced three months of decline previously.

At the same time, national sales for new homes have declined 4.7 per cent over the July period.

"This is a very positive sign for the Queensland economy," said Treasurer Tim Nicholls in an August 30 statement.

"There have been significant falls in other states, including the boom state of Western Australia, but sales in Queensland are on the up."

Mr Nicholls stated that the activity confirms the recovery that the state government forecasted in its budget for 2013-14.

HIA Chief Economist Dr Harley Dale stated that overall there has been a "strong upward momentum to new home sales since the record lows plumbed in 2012".

However for the construction industry to continue to grow through 2013-14, this figure needs to improve further nationally.

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