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New home sales are continuing to fall, extending a trend that began in late 2021.
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The number of new homes sold in March was 7.2% lower than the month before, according to the latest monthly survey from the Housing Industry Association.
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This is concerning for anyone who wants housing to be more affordable, because a reduction in the supply of new housing will lead to an increase in demand, putting upward pressure on sale prices and rents.
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Compounding the decline in new home sales is an increase in the number of projects being cancelled, which rose to 30.5% of projects in March. So even when homes are being sold, theyβre not always getting built.
Subiaco finance brokers are here to help
Interest rate rises are here, but you donβt have to fear with the right broker on your side.
The team at Sonam Capital are here to empower you through financial knowledge. Weβll take the time to get to know you and your unique situation and speak in a language you can understand, with strategies you can implement for the best possible outcomes.
Nick, Wayne and Amanda at Sonam Capital are your Subiaco finance specialists.
