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New House Sales Strong in Adelaide

By Brett Pilgrim

New private detached house sales increased strongly in South Australia during the month and quarter of October 2013, according to the latest figures from the Housing Industry Association (HIA).

The total of seasonally adjusted new home sales in South Australia increased by 17.4 per cent in the month of October, resulting in a quarterly increase of 10.5 per cent.

“This October result is very strong in its own right, but it’s all the more impressive as it follows two consecutive months of decent gains,” HIA Regional Executive Director (South Australia) Robert Harding said in a November 28 media release.

Mr Harding has forecast there will be some softening in sales over November, but the upward trend should continue through into 2014, which is encouraging news for those looking to buy a brand new property in Burnside.

Along with an increase in sales, positive momentum for housing finance and building approvals inspire confidence that real estate in Adelaide and other areas of South Australia can continue to post strong results.

“These are positive signs that residential construction activity in South Australia is on the path to recovery,” Mr Harding said.

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