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Four-year high for sales of new properties

By Ben Faulks

The number of new properties in Dunlop may have risen over recent years, as the Housing Industry Association (HIA) reveals an upswing in sales activity. Announcing data from March 2015, the group said new home sales had reached a four-year high across the country, as people realise the benefits of being in a new build property.

"The monthly rise in both the detached and multi-unit segments of the market is an encouraging result.," commented HIA economist Diwa Hopkins.

"However, the broader trend is that growth over the past year has been driven by multi-unit sales, while detached house sales have tracked sideways."

Figures showed that detached house sales were up 2.6 per cent from the previous month, while sales of multi-unit dwellings witnessed a rise of 11.3 per cent.

This news comes as the HIA also points to a rise in construction activity throughout the country, albeit at a slower rate than has been seen over some recent months. 

The Australian Industry Group/HIA Australian Performance of Construction Index indicated that house building stood at 51.6 points. Although this was down 4.2 points from the previous month, it nevertheless shows that residential construction is still in positive territory.

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