Land sales shine brighter light on new home build­ing

Port Douglas & Mossman Gazette - - FRONT PAGE -

THE lat­est HIA-RP Data Res­i­den­tial Land Re­port pro­vided by the Hous­ing In­dus­try As­so­ci­a­tion points to fur­ther up­ward mo­men­tum in de­tached house con­struc­tion in 2013-14. The vol­ume of res­i­den­tial land sales posted strong growth of 18.2 per cent in the June 2013 quar­ter to reach a level of 17,170. In the June 2013 quar­ter the weighted me­dian res­i­den­tial land value for Aus­tralia’s six state cap­i­tals in­creased by 0.2 per cent to $219,863. This value was 2.4 per cent higher when com­pared to the same pe­riod in 2012. The me­dian value for re­gional Aus­tralia was $153,710 in the June 2013 quar­ter. This rep­re­sented a quar­terly de­cline of 1.0 per cent and a 0.1 per cent an­nual re­duc­tion. ‘‘This is the high­est quar­terly vol­ume achieved since the March quar­ter of 2010,’’ said HIA chief econ­o­mist Har­ley Dale. ‘‘ The re­cov­ery in res­i­den­tial land sales is im­pres­sive, but from a very low base.’’

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