And we won't even get into your obsession with my 2015 prediction.
Cue more whining... 'you only have 22 months, you need blah blah blah percent waaahhhhh'. Nobody cares either.
Earthsta, despite his many other faults, is entirely correct in pointing out your failings--or more accurately, your serial disingenuity--when it comes to calendar math....
New home sales have bounced back in March after a strong decline in February, according to the Housing Industry Association.
The HIA New Home Sales report shows a 4.2% increase in seasonally adjusted new home sales in March bringing sales figures back to what they were 12 months ago.
There was a strong decline in new home sales in February – a 4% decline for new detached house sales and an 11% decline for sales of multi-units. They both increased by 3.9% and 5.6% respectively.
“A bounce back in March after a disappointing result for February is a good result to see," says HIA Chief Economist, Harley Dale. "It was important we saw a rise, even one that didn't completely eradicate the February decline."
“However, the overall trend of recovery since November last year means sales volumes are now at low rather than record low levels.”
During March detached house sales increased by 16.3% in New South Wales, 7.3% in Victoria, 3.2% in Queensland, and 5.7% in South Australia.
Detached house sales fell by 5.6% in Western Australia following three consecutive rises.
Dale used the results to call for economic reform by the federal government to boost new housing supply.
The HIA New Home Sales Report for April 2013 shows the trend of recovery since late 2012 is continuing in 2013.
The HIA New Home Sales report, a survey of Australia’s largest volume builders, showed that total seasonally adjusted new home sales increased by 3.9 per cent in April 2013, taking monthly sales back to a level not seen in over a year. The headline result was driven by a 6.7 per cent lift in detached house sales, which was experienced across all states covered by the survey, bar Queensland. In contrast, multi-unit sales fell by 9.4 per cent.
“Overall, recent developments in new home sales are encouraging. In particular, the important detached house segment of the market continues to climb out recent record lows, and this improvement has largely been broad-based across the states,” said HIA Senior Economist, Shane Garrett.
“While multi-unit sales have softened over recent months, the gains made over the course of 2012 have not been eroded. A broader look at the situation shows that the volume of sales in the three months to April this year is still 51.7 higher than trough experienced a year earlier,” added Shane Garrett.
“We do, however, need to be considering the longer term prospects of a recovery in residential construction beyond 2013,” said Shane Garrett.
“The economy is amidst a transition away from growth driven by mining and related investment and the consensus aspiration is for residential dwelling investment to fill the ensuing hold. While we share this aspiration, we don’t have strong evidence that this will actually be achieved,” said Shane Garret.
“There are still major obstacles to recent improvements in residential construction developing into a sustained recovery. Households remain cautious and are still using lower interest rates to hasten debt repayment rather than engage in spending. On the other side of the housing ledger, home builders and residential developers are facing tight credit conditions, hampering the number of projects that proceed to sale and building commencement,” said Shane Garrett.
“For a recovery to be of the duration and magnitude required not only by the economy, but by Australia’s housing needs, governments of all levels, led by the federal government, need to take decisive policy action to address these obstacles,” said Shane Garrett.
In the month of April 2013 detached house sales increased by 9.1 per cent in Victoria, 9.0 per cent in Western Australia, 8.1 per cent in New South Wales, and 2.7 per cent in South Australia. Detached house sales fell by 1.8 per cent in Queensland.
Sales of new houses in New South Wales continued the upward trend in April after dropping to a cyclical low in the third quarter of 2012, said the Housing Industry Association.
HIA’s New Home Sales report, a survey of Australia's largest volume builders, showed that total seasonally adjusted detached home sales in New South Wales increased by 8.1 per cent in April 2013, which follows on from a strong 16.3 per cent lift in March.
“After the relatively slow start to the year it is good to see a strong bounce back in March and April," said HIA Executive Director, NSW, David Bare.
“The NSW Government’s commitment to boosting economic activity in the state and improving the supply of housing are beginning to pay dividends,” said David Bare. “However, the past decade has been marred by false starts for a home building recovery, so the situation remains fragile.”
“With the state budget just around the corner, it is important that the Government continues its path for reform. This would stand the current improvement in good stead to gather momentum and deliver a recovery in new home building required by the growing NSW population and by the state’s broader economy,” added David Bare.
Momentum is building in the residential construction sector with new home sales rising to their highest level since December 2011.
New home sales rose 3.9% over April to be well above 6,000 sales, according to the Housing Industry Association's latest survey of Australia's largest volume builders.
It follows a similar strong rise in March of 4.2%.
Detached house sales increased by 9.1% in Victoria, 9% in Western Australia, 8.1% in New South Wales, and 2.7% in South Australia. Detached house sales fell by 1.8% in Queensland.
The last time sales were this high was in December 2011 as the graph below shows:
The rise in April was driven by a 6.7% lift in detached house sales, which was experienced across all states covered by the survey, bar Queensland.
In contrast, multi-unit sales fell by 9.4%.
“Overall, recent developments in new home sales are encouraging. In particular, the important detached house segment of the market continues to climb out recent record lows, and this improvement has largely been broad-based across the states,” says HIA senior economist, Shane Garrett.
“While multi-unit sales have softened over recent months, the gains made over the course of 2012 have not been eroded. A broader look at the situation shows that the volume of sales in the three months to April this year is still 51.7% higher than trough experienced a year earlier.
“We do, however, need to be considering the longer term prospects of a recovery in residential construction beyond 2013.
“The economy is amidst a transition away from growth driven by mining and related investment and the consensus aspiration is for residential dwelling investment to fill the ensuing hold. While we share this aspiration, we don’t have strong evidence that this will actually be achieved.
“There are still major obstacles to recent improvements in residential construction developing into a sustained recovery. Households remain cautious and are still using lower interest rates to hasten debt repayment rather than engage in spending. On the other side of the housing ledger, home builders and residential developers are facing tight credit conditions, hampering the number of projects that proceed to sale and building commencement.
“For a recovery to be of the duration and magnitude required not only by the economy, but by Australia’s housing needs, governments of all levels, led by the federal government, need to take decisive policy action to address these obstacles,” he says.
New home sales increased by 1.6% in May, taking monthly sales back to their highest level in 18 months, according to the Housing Industry Association's (HIA) latest survey of Australia's largest volume builders.
The strong, but uneven improvement in May comes one day ahead of the HIA's housing summit in Sydney, addressing issues affecting the supply of new housing.
Detached house sales posted modest growth of 0.9% through gains occurring in three out of five mainland states – New South Wales, Victoria, and South Australia.
Multi-unit sales enjoyed a faster monthly growth pace of 5.7%
In the month of May 2013 detached house sales increased by 4.3% in New South Wales, 8.8% in Victoria, and 6.9% in South Australia.
Detached house sales fell by 2.2% in Queensland and by 10.3% in Western Australia.
"It is pleasing to observe upward momentum in new home sales continuing, especially given the low depths plumbed in 2012,” says HIA chief economist, Dr Harley Dale, a speaker at tomorrow's summit.
“A range of housing indicators, including new home sales, suggest Australia experienced modest growthin new residential construction in 2012/13, with some momentum in activity set to carry into the fresh financial year.
“That outcome was important, following as it did a sustained period ofweakness which saw activity in a majority of markets reach historically very low levels.
“The key is whether a new home building recovery can be sustained, and at a growth rate sufficient to meaningfully assist the Australian economy with its rebalancing acts,” says Dale.
New home sales in May 2013 continued their modest moves up and away from the record lows experienced in 2012, said the Housing Industry Association, the voice of Australia’s residential building industry.
The HIA New Home Sales report, a survey of Australia's largest volume builders, showed that total seasonally adjusted new home sales increased by 1.6 per cent in May 2013, taking monthly sales back to their highest level in 18 months. Detached house sales posted modest growth of 0.9 per cent through gains occurring in three out of five mainland states – New South Wales, Victoria, and South Australia. Multi-unit sales enjoyed a faster monthly growth pace of 5.7 per cent.
“It is pleasing to observe upward momentum in new home sales continuing, especially given the low depths plumbed in 2012,” said HIA Chief Economist, Dr Harley Dale.
“A range of housing indicators, including new home sales, suggest Australia experienced modest growth in new residential construction in 2012/13, with some momentum in activity set to carry into the fresh financial year,” said Harley Dale. “That outcome was important, following as it did a sustained period of weakness which saw activity in a majority of markets reach historically very low levels,” added Harley Dale.
“The key is whether a new home building recovery can be sustained, and at a growth rate sufficient to meaningfully assist the Australian economy with its rebalancing acts,” noted Harley Dale. “We won’t get that required outcome while policy makers continue to assume that super low mortgage rates will do the job all on their own.”
“There needs to be a concerted focus, led at a Federal level, on policy action to deliver sustainably higher levels of new housing supply,” added Harley Dale. “HIA’s Housing Australia’s Future Summit being held in Sydney tomorrow will investigate the causes behind and solutions to demand and supply side constraints in the context of the future levels of residential construction activity Australia requires.” In the month of May 2013 detached house sales increased by 4.3 per cent in New South Wales, 8.8 per cent in Victoria, and 6.9 per cent in South Australia. Detached house sales fell by 2.2 per cent in Queensland and by 10.3 per cent in Western Australia.
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