New home sales rose 78% in June from a record low in May, says HIA chief economist Tim Reardon. The increase is attributed to the Government’s HomeBuilder program and all states have recorded an uplift which, in turn, is driving construction and jobs growth. First-home buyers are snatching up vacant titled land, even blocks that have been sitting on the market for more than two years, in a rush to get the HomeBuilder grant, agents and developers say.
Stockland Communities chief executive Andrew Whitson says there has been strong levels of inquiry since the announcement of the HomeBuilder stimulus. “At some of our communities, we’re seeing around three times the 2019 average weekly enquiry level,” Whitson says. Across the country, Western Australia had the largest monthly increase in June compared to May 2020, rising by 211%. South Australia followed, increasing by 157%; Victoria (+48%), Queensland (+43%) and New South Wales (+13% also recorded significant monthly increases.