Australia's House bounce for Sales

According to The Housing Industry Association’s New Home Sales Report, based on the survey that Australia’s 100 largest builders, it shows that there is a significant bounce for sales in November 2011. Across Australia, there is a 9.8% increase in which driven by stronger New South Wales and Victoria. The total home sales across Australia increased by 6.8% in November compared with 2.8% gained last October.

According to HIA Chief Economist Harley Dale, “This is a healthier but not expected result.” “Falling Interest Rates, a competitive building market, and greater availability of skilled trades amidst still very soft overall demand, Dale added. The immediate upswing of the home sales across Western Australia was when the first interest cut last November. The volume of house sales improved to 5 mainland states in November 2011 including Western Australia with 5.7% increased.