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Australian Builder’s Report Lowest Level in Six Months
06/03/2010

Housing Industry Association’s said that there’s a decline on their profit and this was recorded as the lowest level of profits in six months as of now. The report made the industry worried about this issue as they need to recover to gain and increase their earnings.

In accordance to the report, they are asking the state government to support more housing construction in order to achieve their target revenue.

HIA’s new home sales statement said that 1193 houses were sold in April. However there was an 8.2 per cent decrease on the previous month recorded as the lowest monthly figure since October.

On the same quarter last year, the report said that there was a 2 per cent decrease on the percentage of home sales. While there was a drop of 147 on the number of new home approvals on the previous month.

”The economic basis is there for renewed upward momentum in new home sales but supply side obstacles, particularly a lack of readily available land, are looming large once more,” the report says.

Bill Marmion, Housing Minister, recently told Parliament as he said that he wanted to release more land on to the market, with this it will make available to more ”affordable” homes fro sale.

Source: WA Today News