More on the new home sales rout

Wednesday 29 February 2012

There are some very significant not to mention familiar divergences in todays very weak new home sales result from the HIA. Here’s a little more on the state by state breakup, as well as houses versus units.

The weakness in houses is especially apparent in VIC:

And NSW:

QLD and SA are moderately depressed and largely flat. WA, however, is showing signs of an organic recovery:

Finally, across the nation, mutli unit sales are not down quite so far as detached houses though the trend is friendly:

About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.