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Steady growth in detached home sales has driven new home sales in February – the second consecutive monthly rise.
Total new home sales were up by 3.9 per cent in last month, HIA figures showed today, with detached home rising by 4.7 per cent over the month.
Sales are now up by 8 per cent since November.
Pre-contract sales of apartments and units however fell for the fifth consecutive month by 3.4 per cent.
HIA chief economist Harley Dale said the first home owner incentives were providing some much needed stimulus to the home building market however investors in multi-unit dwellings remained wary of the market.
He called for further incentives to boost the supply of investment as well as owner-occupied stock to ensure private dwelling stock is increased.
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