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Four year high for new home sales in March

By Louise Morrin

The strength of Australia's new home market has been highlighted by recent figures released by the Housing Industry Association (HIA). 

According to the HIA New Home Sales Report, the construction industry has been a major contributor to the nation's economy over the last few years.

This, in turn, has resulted in the growing prominence of new home sales across the country. These figures have risen to the strongest level seen since 2010.

HIA economist Diwa Hopkins said that new multi-unit sales led the pack, posting an 11.3 per cent increase over the month. Detached homes sales also jumped, rising by 2.6 per cent over the same period. 

"The monthly rise in both the detached and multi-unit segments of the market is an encouraging result. 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," said Ms Hopkins in a 6 May statement. 

When coupled with the recent official cash rate announcement, now could be a great time to begin looking into your own housing situation and consider purchasing property in Carlton

Get in touch with a real agent and investigate available property options in the local community today!

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