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Queensland New Home Sales Steady Despite Nationwide Slump

By Andrew Bell

Queensland is bucking a nationwide trend of falling new home sales, which is great news for those looking to sell new real estate in Surfers Paradise.

The Housing Industry Association (HIA) released findings from their New Home Sales report which showed that sales of new homes across Australia fell in July – the first time this has happened in five months.

Seasonally adjusted total new home sales declined by 4.7 per cent last month, mirroring the 5.3 per cent decrease back in February this year.

Nationwide sales of detached houses fell by 6.4, a trend that was reflected in each individual state except Queensland, where the figure actually increased by 12.6 per cent.

This followed three consecutive months of falling sales in the state.

However, HIA chief economist Dr Harley Dale urged the public that the nationwide decline in new home sales was not a cause for concern.

"One monthly fall, while disappointing, does not really change the story," he said in an August 29 media release.

"What we need to observe over the remainder of this year is strong growth in new home sales volumes."

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