ABCDiamond

House Sales Increase again in February 2009

Australian New home sales increased by 3.9 % in total, for February 2009.

Detached home sales recorded a higher than the overall increase at 4.7 % for the month

Queensland however increased the sales of New Homes by 21.7% for the month

State figures for February 2009 for New Home Sales include:

• 21.7% QLD
• 11.17% NSW
• 4.2% WA
• -5.6% Victoria

http://business.theage.com.au/busine...0330-9fzc.html

brendarover

Fantastic news, houses are selling and forever going up in value, we are all getting richer on the back of rising prices. Just a shame for thoses who may want to buy anytime soon, never mind though hey, its still greaat news, well worth a thread!

scamp1976

Wait... so let me explain this to the numpties who believe everything that the newspaper posts :

QLD February 2008 : 1800 sold houses
QLD December 2009 : 3 sold houses
QLD January 2009 : 1 sold house
QLD February 2009 : 2 sold houses

Oh my god, housesales figures for February 2009 have DOUBLED !
100% increase in QLD guys !! houses are selling again ! Quick put it in the newspapers !

Oh please... do the maths... YoY = 99% drop in sales... oh excuse me.. that's not what you wanted to hear ?...

ABCDiamond

I haven't seen anything about the prices going up. Where is that news ?

One of your comments does puzzle me, you say "Just a shame for thoses who may want to buy anytime soon". But these are people, and probably first home buyers, who are buying

ABCDiamond

I thnk you haven't quite got the right figures there

brendarover

Yep, buying a IOU bank slavebox flat or house, being duped into it by the bribe to buy first time grant.

February 2009 New House sales figures - The good news should read

"First time buyers realise they are being bribed with the get a house quick bribe" So they are shunning the whole charade and not buying into the whole over inflated ponzi housing market in Queensland, so not keeping the bubble going?

ABCDiamond

On that same basis, working with annual figures instead of shorter periods, we should reconsider the GDP, which has not gone negative using annual figures, therefore we are no-where near a recession after all.

Does that sound better ?

or is it a case of "use bad figures wherever possible", to avoid anything good being said ?

People are buying houses because they want somewhere to live.
Yes, sales did drop earlier, we all know that, but the numbers of sales are increasing, in some areas.

Take the quarterly figures...
Figures for the 3 months Dec 2008-Feb 2009Would you rather the news were to say that sales are dropping ?

sj oldfield

I would have thought it was rather a good time for a First Time Buyers to get in the market..................compared to a few years ago when prices were out of their price range???

ABCDiamond

It is also good for the building industry, building confidence for jobs for the trades people.

I was just looking at some older figures:
June 2006 7,200 approx new home sales
Dec 2008 6,800 approx new home sales
Jan 2009 7,300 approx new home sales

Feb 2009 must be about 7,550 based on 3.9% increase

The figures are approx as I am looking at a graph with 500 increments.

The highest monthly peak shows about 10,100 in March 2006. The graph began in Jan 2006

pingpong

Why when the market is crashing and buyers will be immediately thrown into negative equity? All this ramping of the property market by the vested interests, developers, RE agents should be banned. Its this kind of crap that grew the property bubble in the first place.

Geelong Gent

Depends if he works for treasury or not

"What number do you want PM?"

ABCDiamond

Is it better that they have no-where to live or pay more in rent than in mortgage repayments ? And for all the building companies to go bust and creating massive unemployment ?

The blame for the earlier property rises seems to move around depending who is talking. At one stage it was the property Investors that caused it, now it appears to be the First Home buyers wanting somewhere to live.

ABCDiamond

Yes Minister

asprilla

I bet your favourite drink is a pint of "bitter".

pingpong

Well in Sydney, renting is currently way cheaper then buying. IMO persuading people to go into a bidding war and getting them in serious debt at a time of economic uncertainty just so some RE agent can hit a target and but a new BMW is morally wrong.