New Home Sales Hit Record High in South Australia

 New Home Sales Hit Record High in South Australia

The number of new homes sold has hit a six-year high in South Australia as a flurry of buyers take advantage of government grants and schemes to save themselves thousands.

Data released by the national Housing Industry Association (HIA), shows new home sales is up 104.9% in the three months leading up to August – almost double the figure nationally.

Treasurer Rob Lucas said that the statistics are a positive sign of things to come, and praised government initiatives for boosting the property market.

“The Government recognises the critical importance of the local housing and construction sector as a significant employer of South Australians, both directly and indirectly, and today’s new home sales data paints a positive picture for the industry going forward,” said Mr Lucas.

We know the Federal Government’s HomeBuilder scheme, which provides a $25,000 grant for eligible applicants toward their new home build in addition to the existing $15,000 State Government First Home Owner Grant incentive, has had a positive impact on buyer confidence.

Treasurer Rob Lucas

HIA Chief Economist, Tim Reardon, said that if things carry on as they are, it will mean many more people keep their jobs, in a huge boost for Australia’s economy.

“If the momentum from HomeBuilder is maintained, more slabs will be poured before the end of the year which will create significant employment opportunities across the economy and not just in the home building sector,” he said.

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