Wednesday, 3 April 2013

Home sales slide...

While the mining boom flickers out, Australia's other, real economy has tanked and no the Ozzie dream of the quarter acre block will not save all...


MacroBusiness economist Leith van Onselen said that sales in the detached new homes market were now tracking at their lowest annual level in the 16-year history of the series...."It's the worst February on record," he said....
...Victoria posted the weakest performance by far, with detached home sales dropping 13.7 per cent...."Victoria's detached new homes market is extremely sick," Mr van Onselen said, noting that the problem has been exasperated by the cancellation of the $13,000 first home bonus in July last year....
...The slide has come despite many developers offering steep incentives – including cars, cash rebates and home decorating packages – in bid to entice buyers back into the market.... (here)

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