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QLD enjoys new home sales increase in Dec

By Amanda Shannon

Those who own Gold Coast real estate may be interested to know that new home sales increased by 3.8 per cent in Queensland last December.

A Housing Industry Association (HIA) New Home Sales report has found that nationally, there was a seasonally adjusted rise of 6.2 per cent in the final month of 2012 – the third consecutive increase.

Over the December quarter there was a 3.3 per cent increase, with HIA economist Geordan Murray, lauding the results, which were underpinned by significant growth in multi-unit sales.

"However, the overall result for 2012 leaves plenty of room for improvement.

"Detached house sales were weak throughout the year and compared with 2011 were down by 22.7 per cent. On the other hand, multi-units sales were the star performer of 2012."

The star performer of 2012 was multi-unit dwellings as they increased by 24 per cent over the whole of 2012.

Mr Murray warned that while these are positive signs, more needs to be done from a government and administrative level to see further growth. Low interest rates alone will not facilitate an increase.

In addition to Queensland – Victoria, New South Wales and Western Australia all saw growth in the sale of new real estate.

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